Uzbekistan’s state budget deficit exceeds 25 trillion UZS in just four months

According to the data provided by the Ministry of Economy and Finance, state budget revenues in January were 16 trillion 159.9 billion UZS, while expenditures totaled 21 trillion 926.7 billion UZS. The difference between revenues and expenditures was 5.7668 trillion UZS.

In February, state budget revenues reached 16 trillion 908.9 billion UZS, and expenditures were 24 trillion 137.1 billion UZS. The deficit for February stood at 7.2281 trillion sums.

For March, state budget revenues were reported at 17 trillion 457.2 billion UZS, with expenditures amounting to 24 trillion 307.1 billion UZS. The negative balance for the month was 6.85 trillion UZS.

In April, the state budget recorded revenues of 19 trillion 286.1 billion UZS against expenditures of 25 trillion 27.2 billion UZS, resulting in a deficit of 5.7411 trillion UZS.

Overall, the state budget deficit for the past four months has totaled 25.586 trillion UZS.

Consolidated budget revenue and expenditure reports have not yet been released.

According to the 2024 State Budget Act, state budget revenues were projected at 270.4 trillion UZS, with expenditures at 280.7 trillion UZS.

The deficit of the consolidated budget (which includes state-targeted funds, the Reconstruction and Development Fund, and off-budget funds of budget organizations, in addition to the state budget) is capped at 52.6 trillion UZS or 4% of GDP.

Previously, the Chairman of the Central Bank, Mamarizo Nurmurodov, had expressed concerns that a sharp increase in state spending could fuel inflation, suggesting that these concerns are justified.