Information digest of

Legislative Chamber of Oliy Majlis of republic of Uzbekistan

Execution of the State Budget of the Republic of Uzbekistan and budgets of the state trust funds for the 9 months of 2015 was considered

On November 27, a regular meeting of the Legislative Chamber of the Oliy Majlis of the Republic of Uzbekistan was held.

It was attended by deputies, heads of relevant ministries and departments, experts, representatives of the mass media.

In accordance with the authority granted by the Constitution of the country to the Legislative Chamber, deputies considered the report of the Cabinet of Ministers on the execution of the State budget and budgets of the state trust funds of the Republic of Uzbekistan for the first 9 months of 2015 in detail.

This report was previously discussed in the committees of the Legislative Chamber of the Oliy Majlis with participation of representatives of the Cabinet of Ministers, ministries and departments, NGOs, experts of the sphere, the mass media. Extensive analytical work was carried out in factions of political parties, which allowed the deputies, in the interests of the electorate and program goals, to develop their principle positions on the progress of the execution of the main financial document of the country.

A report on the execution of the State Budget of the Republic of Uzbekistan and budgets of the state trust funds for 9 months of 2015 at the meeting was made by the Deputy Minister of Finance of the Republic of Uzbekistan M. Mirzaev.

It was noted that implementation of the most important tasks and priorities of economic program for 2015, determined by the President of the Republic of Uzbekistan at the meeting of government on January 16, 2015, as well as continuation of the medium-term programs of development of industries and sectors of the economy ensured the preservation of positive dynamics of the main macroeconomic parameters and establishing a solid basis for further balanced development of the economy.

For the first 9 months of this year, growth in gross domestic product amounted 8,0 percent, the volume of industrial production also rose by 7,3 percent. The inflation rate did not exceed the forecast parameters. At the same time, further strengthening of macroeconomic stability was accompanied by a positive trade balance.

Implementation of well thought-out, balanced monetary and fiscal policy ensured execution of revenues of the State budget with respect to the forecast parameters by 100,2 percent, amounting 22,4 percent of GDP. The State budget expenditures amounted 22,3 percent to GDP, which made it possible to fulfill the State Budget of the Republic of Uzbekistan with a surplus of 0,1 percent to GDP.

58,7 percent of budget expenditure was directed to the development of social sector, indicating the social orientation of fiscal policy.

In the course of a full discussion of the report on the execution of the State budget and budgets of the state trust funds of the Republic of Uzbekistan for the first 9 months of 2015, representatives of factions of political parties and the deputy group of the Ecological Movement of Uzbekistan in the Legislative Chamber expressed their views on the report.

– Positive structural and qualitative changes, tendencies in the economy achieved during the first 9 months of the current year ensured its sustainable development and allowed to fulfill the State Budget with surplus, – said member of the Committee on Budget and Economic Reforms S.Namozov. – It should be noted that the effectiveness of the reforms in the economy of the country, the growing role of small business and private entrepreneurship ensured sustainable economic growth. In addition, against the background of a significant reduction in the tax burden of a single tax payment receipts from the small and micro enterprises increased by 22,9 percent and by trade and public catering increased by 25,4 percent to the corresponding period of the last year, which indicates the effectiveness of tax privileges and preferences.

It was noted that in conditions of continuing instability in world markets, measures taken on expanding the volume and range of competitive products contributed to the growth of exports of goods and services. As a result of measures on diversification and improving competitiveness of production, stimulating establishment of new capacity for the production of marketable products in foreign markets since the beginning of the year in export activity involved 830 new enterprises.

At the meeting, it was emphasized that in the structure of spending to social sphere, the most part is still accounted for spending on education and healthcare.

– In executing the State budget for 9 months, special attention was paid to the social sphere, – said member of the Committee on Budget and Economic Reforms S.Arzikulov. – This is evidenced by the fact that about 60 percent of the State budget funds were directed to social support and improving welfare of the population.

In the reporting period, issues of further deepening reforms in the education system, improving educational standards and programs aimed at improving the level and quality of the educational process, continuing to strengthen the material-technical base of educational institutions were given a priority attention. At the same time, 56,3 percent of the total social spending is directed to the maintenance and development of educational institutions.

During the first 9 months of this year, activities on further reforming and developing the healthcare system was consistently and purposefully carried out. In the reporting period, 24 percent of the total spending was directed for the development of healthcare and social sphere, which is 17,1 percent more compared to the same period in 2014.

During the meeting, deputies paid special attention to issues of ensuring compliance by business entities of tax legislation at places and the effective use of benefits and preferences, strengthening the revenue part of local budgets based on further improvement of inter-budgetary relations, as well as the effective use of financial capacities of relevant territories.

Deputies made a number of proposals on improving the accountability of the state governing bodies, budgetary organizations in the center and at places for ensuring effective and targeted spending of budget funds, financial discipline and further strengthening of control over the implementation of norms and regulations of the Budget Code.

Taking into account the expressed opinions and proposals during the discussion, the Legislative Chamber of the Oliy Majlis approved the report on the execution of the State budget and budgets of the state trust funds of the Republic of Uzbekistan for the first 9 months of 2015 and adopted a relevant resolution.

(Source: Information Service of the Legislative Chamber of the Oliy Majlis of the Republic of Uzbekistan)