Tashkent, Uzbekistan (UzDaily.com) -- At the twenty-second plenary meeting of the Senate of the Oliy Majlis, the report of the Cabinet of Ministers on the execution of the State budget of the Republic of Uzbekistan for nine months of 2021 was heard.

The main attention in ensuring the execution of the budget was paid to the tasks outlined in the decrees and resolutions of the President of the Republic of Uzbekistan to maintain economic stability, support the social sphere and social protection of the population.

The execution in 9 months of the Law "On the State Budget of the Republic of Uzbekistan for 2021" is ensured within the established parameters.

Thanks to timely coordinated fiscal and monetary measures, the economy of the republic during the reporting period grew by 6.9%, the volume of GDP amounted to 519.8 trillion soums.

Economic growth rates were 9.0% in industry, 4.5% in construction, 4.2% in agriculture, forestry and fishing, and 7.6% in services. Thanks to measures aimed at ensuring economic growth rates, the inflation rate since the beginning of the year was 5.9%.

State budget revenues for the reporting period amounted to 116 trillion soums and exceeded the established forecast by 8.4% or 9.0 trillion soums. Incomes compared to the corresponding period of last year increased by 21.6 trillion soums.

State budget expenditures for 9 months of 2021 without state trust funds amounted to 130 trillion 265.1 billion soums, which is 95.8% of the revised targets or 25.1% of GDP.

During the reporting period, the revenue side of local budgets was executed by 20% surplus in relation to the forecast or amounted to 25 trillion 495 billion soums, the expenditure side - by 4% surplus in relation to the plan and amounted to 46 trillion 497 billion soums.

Thanks to the practical measures taken by the government to increase the independence of local budgets, the indicator of local budget revenues was fulfilled at the level of more than 6 trillion 385 billion soums.

This, in turn, made it possible to ensure social protection of the population and reduce poverty, timely pay wages and equivalent payments, social benefits, material assistance and compensations.

It was noted that in the reporting period, funds in the amount of 64 trillion 38 billion soums, or 49.2% of total expenses, were allocated from the State budget for the social sphere.