Tashkent, Uzbekistan (UzDaily.com) -- At the thirty-second plenary session of the Senate, the report of the Cabinet of Ministers on the execution of the State budget of the Republic of Uzbekistan in the first half of 2022 was discussed.

It was noted at the meeting that despite the complex processes taking place in the world economy, sustainable development of the economy of Uzbekistan is ensured during the first half of 2022. Thanks to the effective fiscal and monetary policy implemented in our country, the volume of GDP in current prices reached almost 390 trillion soums, economic growth amounted to 5.4% compared to the corresponding period of last year.

State budget revenues in the reporting period amounted to 92.6 trillion soums, having increased by 17.8 trillion soums compared to the corresponding period last year. It was noted that the growth of State budget revenues in recent years was influenced by the introduction of new levers of tax control and administration, the expansion of the tax base, and ongoing reforms in the economy.

State budget expenditures in the first half of 2022 without state trust funds amounted to 103.0 trillion soums or 26.4% in relation to GDP. Revenues of local budgets in the reporting period reached 36 trillion 977 billion soums.

During the discussions, members of the Senate focused on the implementation of revenues and expenditures of the State budget for 6 months of 2022, targeted spending of allocated funds, as well as the level of collection of revenues accrued on taxes and customs duties when fulfilling the forecast of revenues of the State budget established by the tax and customs authorities .

Shortcomings were also indicated in the expansion of the revenue base of local budgets and the targeted use of income received in excess of the established forecast.

The senators expressed their attitude to the situation of taking into account public opinion at the expense of the overfulfilled forecast part of the local budget through the Open Budget portal. It was noted that in this respect it is necessary to ensure transparency and broad participation of citizens.

In addition, some shortcomings in ensuring the execution of revenues and expenditures of the State budget, the effective and targeted use of budget funds and state trust funds were noted, suggestions and comments were made on their elimination and prevention.

The corresponding resolution of the Senate was adopted on the considered issue.