Deputy Prime Minister, Minister of Finance of Uzbekistan Jamshid Kuchkarov presented the draft state budget to the Senate.

The senators approved the state budget for 2018 with a surplus of 0.02% of GDP or 59 billion soums.

Jamshid Kuchkarov noted that the gross domestic product of Uzbekistan in 2018 is projected at 290.6 trillion soums, which is 5.9% more than in 2017. The GDP deflator will be 14.1% and the consumer price index will be at the level of 12-13%, he noted.

It is expected that industrial production growth in 2018 will be 6.4%, agricultural production - 4% and volume of capital investments - by 6.5%.

The revenue part of the state budget in 2018 will be about 62.23 trillion soums or 21.4% of GDP of Uzbekistan. Expenses of the state budget are projected at the level of 62.17 trillion soums or 21.4% of GDP.

At the same time, the most of the state budget expenditures will be directed to the social sphere. The volume of social spending will amount to 34.7 trillion soums. Over 8.5 trillion soums will be directed to implementation of state programs. About 815 billion soums will be allocated for equipping preschool educational institutions, 559.1 billion soums for development of the material and technical base of 48 higher educational institutions. Over 803.6 billion soums will be allocated for the construction, reconstruction and overhaul of 296 medical institutions, as well as their equipping.