Tashkent, Uzbekistan (UzDaily.com) - At the tenth plenary meeting of the Senate, the laws of the Republic of Uzbekistan “On the State Budget of the Republic of Uzbekistan for 2021”, “On Amendments and Additions to Some Legislative Acts of the Republic of Uzbekistan in Connection with Improving the Budget Process”, “On amendments and additions to some legislative acts of the Republic of Uzbekistan in connection with the adoption of the Law of the Republic of Uzbekistan “On the State Budget of the Republic of Uzbekistan for 2021” were discussed.

It was noted that the Law “On the State Budget of the Republic of Uzbekistan for 2021” defines forecasts of the main macroeconomic indicators for 2021, the consolidated State budget, as well as budget targets for 2022-2023.

The main directions and indicators of macroeconomic policy are formed based on the assumptions that the coronavirus pandemic will continue into the next year.

At the same time, the main attention is paid to maintaining macroeconomic stability, stabilizing fiscal stimulus measures, ensuring economic growth at a level above 5%.

According to forecasts, the downward trend in inflation will continue, and next year it will be within 10%.

It is envisaged that these development indicators will be achieved due to the qualitative continuation of the structural reforms initiated in each area.

Based on this, it is projected that in 2021 the consolidated budget revenues will amount to 178.5 trillion soums or at the level of 25.9% of GDP.

It is determined that in 2021 the state budget revenues will amount to 147.2 trillion soums or 21.3% of GDP. It is planned that the income of state trust funds will amount to 26.2 trillion soums, expenses - 40.8 trillion soums.

It has been determined that 15.9 trillion soums will be allocated from the republican budget to state target funds. soums.

In particular, it is planned to allocate 14.7 trillion soums from the budget, while the revenues of the off-budget Pension Fund will amount to 23.5 trillion soums, expenses - 36.5 trillion soums.

In addition, it is planned to direct funds from the state budget to the social sphere, in particular, 34.6 trillion soums - in education, 19.6 trillion soums - in the healthcare sector, 2.6 trillion soums - for the expenses of the sphere of culture nd sports, 1.2 trillion sums - for the further development of science.

Within the framework of state programs, it is planned to allocate funds for the development of continuous education (2.19 trillion soums), implementation of programs for the development of science (168 billion soums) and improving the quality of medical services for the population (3.95 trillion soums).

In addition, it should be noted that the Law for the first time, within the framework of measures aimed at strengthening public and parliamentary control, provides for a separate indication in the budget of budget allocators of the first level of funds allocated for state programs.

During the meeting, it was also noted that the Law "On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with the Improvement of the Budget Process" defines measures to improve the budget system and the budget process.

The implementation of these measures is envisaged by making appropriate changes to the Budget Code and the Code of Administrative Responsibility, the laws "On local government" and "On accounting".

At the same time, amendments to the Budget Code establish the application of fines in relation to senior officials of ministries and departments in cases of violation of the procedure for ensuring transparency of the budget process.

Amendments are being made to the Code of Administrative Responsibility, envisaging the application of fines against senior officials of ministries and departments for failure to submit a report on the execution of the budgets of state trust funds, violation of the procedure for ensuring transparency of the budget process.

The meeting also considered the Law "On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with the Adoption of the Law of the Republic of Uzbekistan" On the State Budget of the Republic of Uzbekistan for 2021 ".

The main goal of the Law is to improve tax policy in 2021, to achieve tax collection by increasing the competitiveness of local producers.

In this regard, appropriate changes are being made to the Law "On Amendments and Additions to the Tax Code of the Republic of Uzbekistan" and the Tax Code of the Republic of Uzbekistan.

In order to ensure the direct effect of the norms of the Tax Code, amendments are also being made, providing for the gradual bringing of the corresponding tax rates to the base rates.

These laws have been approved by the Members of the Senate.