Tashkent, Uzbekistan (UzDaily.com) -- Tashkent hosted a regular meeting of the Legislative Chamber of the Oliy Majlis of the Republic of Uzbekistan.

During the meeting, a report on the execution of the State budget of the Republic of Uzbekistan and the budgets of state trust funds for 2022 and the first quarter of 2023 is considered.

The execution of the State budget in 2022 by the Government was carried out within the framework of the Law "On the state budget of the Republic of Uzbekistan for 2022". Target indicators of development programs implemented by ministries and departments have been determined. The execution of the State budget was constantly reviewed at meetings of the Presidium of the Cabinet of Ministers. Along with this, effective parliamentary control of the Legislative Chamber was established for its implementation. Such measures are most important in ensuring the timely execution of the State budget, the effective and targeted spending of its funds.

At the meeting, it was noted that the effective reforms being carried out in the country are yielding results. In particular, favorable conditions and wide opportunities are being created for entrepreneurs, their activities are expanding as a result of lowering rates for certain types of taxes, the abolition of inefficient tax incentives, paying taxes in installments, reducing inspections and other measures.

In the reporting year, 90.2 thousand new business entities were created, the number of entrepreneurs engaged in legal activities increased sharply. The number of VAT payers increased by 30 thousand, and the number of income tax payers - by 24 thousand. Also, due to the improvement of tax administration, the digitalization of the sphere and the improvement of the culture of paying taxes, the tax base has expanded.

Timely implemented large-scale and consistent reforms have made it possible to maintain stable growth rates of the economy of Uzbekistan. In particular, at the end of 2022, the volume of gross domestic product increased by 5.7 percent compared to 2021, while the services and construction sectors, which are the main drivers of economic growth, increased by 8.5 and 6.6 percent, respectively. Also, the inflation rate did not exceed the established indicators. Growth was achieved in the implementation of State budget revenues (100.8 percent).

State budget expenditures were primarily directed to the development of the social sphere, the timely payment of wages and equivalent payments to budgetary organizations and recipients of budgetary funds, social support for the population, and financing of housing programs.

In particular, in 2022, 2.37 trillion soums were allocated to support non-state preschool educational organizations, that is, almost 2 times more budget subsidies were allocated compared to 2021. As a result, at the end of last year, the number of non-state preschool educational organizations reached 22.8 thousand, and the number of children covered by them increased by 746 thousand, or 22 percent more compared to 2021.

The volume of funds allocated from the State budget to primary health care institutions for medicines and medical supplies per capita increased by an average of 3 times and in 2022 amounted to 578.1 billion soums, which is 368.9 billion soums more than in 2021.

In 2022, subsidies in the amount of 168 billion soums were allocated for the purchase of the necessary equipment and technologies for 35.4 thousand unemployed citizens who want to do business and become self-employed, including those included in the Iron Notebook, Women’s Notebook and Youth Notebook.

It was noted that high rates of economic growth were ensured in the economy of Uzbekistan this year, and in the first quarter of 2023, the volume of gross domestic product increased by 5.5% compared to the corresponding period last year.

During the reporting period, in order to support business entities that suffered losses due to abnormal cold and the energy crisis, loans were allocated for 13 trillion soums, and 1,210 entrepreneurs extended the repayment periods of loans and were given the opportunity to pay off tax debts in installments.

At the same time, despite the current political and economic situation in the world, stability of the state budget is being achieved in our country. During the reporting period, the State budget revenues were overfulfilled by 102.8 percent or 1.3 trillion soums. By reducing the tax burden in the economy, the activity of entrepreneurs and investment activity has been increased, which had a positive impact on ensuring the stability of budget revenues.