Questions on the agenda were addressed by Deputy Minister of Finance of the Republic of Uzbekistan M. Mirzaev in his report.

As was noted, the modernization of the economy through diversification and structural transformation of production, introduction of modern, advanced technologies contributes to the improvement of the competitiveness of the national economy on the world stage. Thus, during the reporting period, the gross domestic product (GDP) grew by 7.8%, the volume of industrial production has also increased by 6.7%.

Implementation of active investment policy aimed at modernization, technical and technological renewal of production, the development of transport and communication infrastructure has allowed to raise the volume of investments by 11.8%, the volume of construction contract works – by 17.5%.

High economic growth rates have been achieved due to maintaining macroeconomic balance, reflecting the positive balance of foreign trade turnover, state budget surplus to gross domestic product ratio at 0.1% and low inflation rates.

The past period of the current year secured the social orientation of expenditures of the state budget, the government has paid great attention to continuously improve the level and quality of life of the population. More than 4.4 trillion soums and $111 million were utilized at the expense of all sources just in the framework of the state program “Year of a healthy mother and child”.

This year, construction is under way of some 13 thousand individual houses on standard projects. Those projects, to be commissioned in rural areas will have all the necessary engineering-communication and social infrastructure. The construction of more than 5.1 million houses has already been completed as of today.

During the discussions, the government representatives answered all questions of deputies on the state budget execution.

Further, Chairman of the Committee on budget and economic reforms of the Legislative chamber of Oliy Majlis A. Shadmanov addressed the participants.

According to him, consistent implementation of major tasks and priorities of economic program for the current year has allowed to maintain high rates of economic growth performance and macroeconomic stability. The State budget was executed in accordance with the parameters approved by the Parliament.

In the course of the scrutiny of the execution of the State budget, the representatives of political parties and the Deputy group of the Ecological movement of Uzbekistan expressed their views and suggested practical recommendations for the effective and targeted use of budget funds, observance of financial discipline in budgetary organizations, enhancing the accountability of public bodies for compliance with the Budget code.

Taking into account the views and suggestions expressed during the discussion, the report of the Cabinet of Ministers on the execution of the State budget of the Republic of Uzbekistan and budgets of state targeted funds in the first half of 2016 was approved and a resolution was adopted.