Why is this important
The increase in tax revenues enhances budget stability and enables more social spending, especially on education and support programmes.
What happened
- VAT rose by 34.4%, personal income tax — by 17.5%.
- 12 trillion soums in VAT refunded to taxpayers;
- Budget expenditures — 173.3 trillion soums (+16%);
- 86.2 trillion soums (+12.1 trillion) were allocated for social needs, of which 49% — for education;
- Contracts were paid for ~7 thousand female master’s students (47.5 billion soums);
- Within the framework of the “From Poverty to Prosperity” program, 247 projects worth 326 billion soums were implemented in 205 settlements.
Context
In 2024, budget revenues increased by 18.5%. The authorities intend to sustain this growth rate through tax system reforms and greater transparency of expenditures.
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### Telegram announcement
Uzbekistan’s budget revenues grew by 19.2% to 144.2 trillion soums. The main growth was ensured by VAT (+34.4%) and personal income tax (+17.5%).
Expenses amounted to 173.3 trillion soums. 86.2 trillion has been allocated for social needs, almost half of which is for education. 326 billion soums were invested in projects in regions with a difficult economy.
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Are you ready to keep up this pace? 🚀
