State budget deficit in Uzbekistan reached almost 20 trillion UZS in Q1, surpassing the expected annual gap

According to the data provided by the Ministry of Economy and Finance, in January of this year, state budget revenues amounted to 16 trillion 159.9 billion UZS, while expenditures were 21 trillion 926.7 billion UZS. The difference between budget revenues and expenses was 5 trillion 766.8 billion UZS.

In February, state budget revenues were 16 trillion 908.9 billion UZS and expenditures were 24 trillion 137.1 billion UZS. The deficit was 7 trillion 228.1 billion UZS.

In March, state budget revenues were 17 trillion 457.2 billion UZS, while expenditures were recorded at 24 trillion 307.1 billion UZS. The deficit amounted to 6 trillion 850 billion UZS.

In total, the state budget deficit for the past three months was 19 trillion 884.8 billion UZS.

According to the law on the state budget for 2024, budget revenues are projected at 270.4 trillion UZS and expenditures – at 280.7 trillion UZS, meaning a deficit of 10.3 trillion UZS. However, in just three months, the budget deficit reached twice the amount expected for the whole year.

The consolidated budget deficit is capped at 52.6 trillion UZS or 4 percent relative to the GDP.