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Uzbek Senate approves state budget for 2016

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Tashkent, December 4, AZERTAC

Senate of Oliy Majlis of Uzbekistan approved the State Budget of the Republic of Uzbekistan and budgets of the state trust funds, as well as the main directions of tax and budget policy for 2016, according to Central Asia news.

The main directions of budget-tax policy and main macroeconomic figures for 2016 envisage growth of GDP by 7.8%, industrial output – 8.2%, agriculture production – 6.1% and capital investments – 9.6%.

Uzbekistan plans to decrease tax burden in 2016 and stimulate sustainable economic growth, ensure balanced budget system, improve efficiency of budget spending, etc.

About 59.2% of all expenses of the budget will be directed to social sector and social support of population. Expenses to economy will make up 10.8% of all expenses and centralized investments – 5.1%.

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