Uzbekistan approves national budget for 2024

Uzbekistan’s President, Shaukat Mirzaev, signed the Law “State Budget of Uzbekistan 2024,” which regulates the association on the formation and implementation of the unified budget of Uzbekistan for 2024.

The stated amounts of funding provided to socially essential national and state programs will be increased without changing the legislation.

In circumstances where the prediction of the budgets of Uzbekistan’s budget system at the end of six months of implementation has not been met and there are no acceptable grounds for their arrival before the conclusion of the current fiscal year:

• Cost reductions of 3% or more of the republican budget’s total costs are made by the Oliy Majlis Chambers.
• Cost reductions of less than 3% are made by the Cabinet of Ministers.

The maximum net size of government securities to be issued on Uzbekistan’s behalf has been set at 25 trillion som.

Uzbekistan’s combined budget deficit for 2024 has been set at 4% of GDP.