Deputy Finance Minister of Uzbekistan Mubin Mirzaev presented the report on execution of the state budget and budget of state funds for nine months of 2016, the press service of the Legislative Chamber said.

During the session, it was noted that the gross domestic product (GDP) of Uzbekistan grew by 7.8% in nine months of 2016 and industrial production rose by 7.2%.

The inflation rate did not exceed forecasted figure. The country recorded foreign trade surplus.

The income part of the state budget executed with 0.2% surplus to the forecasted figure, which made up 21.7% of GDP.

At the same time, expenses of the state budget reached 21.6% of GDP, which ensured execution of the state budget with 0.1% surplus to GDP.

In the reporting period, the volume of received money from single tax payment reached over 1 trillion soums, which rose by 23.3% year-on-year.

In nine months of 2016, about 60% of state budget were directed to social sector.

MPs made several proposals on ensuring efficient and targeted use of budget resources by the state bodies and budget organizations in places.

About 92.4 billion soums were directed to finance scientific-technical programmes and 15.7 billion soums – to innovative projects.

After discussions, MPs approved the report on execution of the state budget and budget of state funds for nine months of 2016. The corresponding resolution was adopted.