Uzbekistan’s state budget deficit increased by 1.5 times in Q1

The Ministry of Economy and Finance has published a report on the execution of the state budget for the first quarter of 2024.

According to the report, state budget revenues stood at 52.6 trillion UZS, an increase of 5.3 trillion UZS or 11.3 percent compared to the corresponding period in 2023.

The state budget expenses (including transfers made to the state targeted funds) for the first quarter of 2024 amounted to 70 trillion 339.6 billion UZS, which is an increase of 11.3 trillion UZS or 19.2 percent compared to the same period in 2023.

The figures indicate a deficit of 17.7 trillion UZS for the first quarter. The corresponding period last year saw a deficit of 11.7 trillion UZS, while in the first quarter of 2022, the indicator was 1 trillion UZS.

In the first quarter of 2024, 33 trillion 919.7 billion UZS, which accounts for 48.2 percent of the total expenditures, was allocated from the State Budget for social sector expenses.