At the seventh plenary meeting of the Senate of the Oliy Majlis, the information of the Minister of Finance of the Republic of Uzbekistan on the execution of the State budget of the Republic of Uzbekistan in the first half of 2020 was heard.
It was noted that the execution of the State budget of the Republic of Uzbekistan in the first half of 2020 was aimed at ensuring the implementation of budgetary parameters established by the Law “On the State Budget of the Republic of Uzbekistan for 2020”, decrees and resolutions of the President of the Republic of Uzbekistan on preventing the spread of coronavirus infection, overcoming the consequences of the global crisis , as well as resolutions of the Government and the Anti-Crisis Commission. Due to the impact of the slowdown in global growth rates on the country’s economy in the first half of 2020, the volume of GDP in current prices amounted to 255.3 trillion. soums or 0.2% compared to the same period last year.
The revenues of the consolidated budget of the Republic of Uzbekistan in the first half of 2020 amounted to 71.6 trillion. soums or 28.8% of GDP, and expenditures – 80.5 trillion. soums or 32.4% of GDP. As a result of the adoption of measures aimed at preventing the spread of coronavirus infection in the country, the execution of the state budget revenues for 6 months of 2020 amounted to 58.2 trillion. soums or 45.3% in relation to the approved annual parameters. During the reporting period, an increase in the inflow of funds was achieved by 15% compared to the same period last year. State budget expenditures for the first half of 2020 amounted to 64.9 trillion. soums, which is 1.2 times more than in the same period last year. As a result, salaries and equivalent payments in the amount of 23.1 trillion rubles were timely and fully financed. soums and deductions for salaries in the amount of 5.0 trillion. soums. In the reporting period, the main factor contributing to the increase in spending on health care, pensions and benefits, the economy and investments was the cost of measures to ensure sanitary and epidemiological well-being and safety of the population, to prevent the spread of coronavirus infection, as well as measures to provide social support to the population in a pandemic. In particular, as of July 1, 2020 at the expense of the Anti-Crisis Fund in the amount of 5.6 trillion. soums, events were financed to prevent the spread of coronavirus infection, support entrepreneurship and employment, expand social support for the population, and ensure the sustainable functioning of various sectors of the economy. In addition, during the reporting period, certain work was done to strengthen the independence of local budget management, ensure guaranteed funding for socio-economic development programs, increase the responsibility of local governments in the formation of local budgets and efficient use of funds. In particular, in the first half of this year, the forecast for local budget revenues amounted to 10.2 trillion. soums and the plan was actually fulfilled by 12.9 trillion. soums. Basically, the established forecast plans were ensured by creating new business entities, increasing the production capacity of low-power enterprises, creating new and legalizing additional jobs, reducing tax arrears, and conducting desk audits.
It was also noted that in connection with the spread of the coronavirus pandemic, the application of quarantine measures, a number of changes have been made to the expenditure side of local budgets. In particular, about 1 trillion. soums were optimized from the budget of the Republic of Karakalpakstan and local budgets. In the first half of this year, 164 billion soums were allocated for the population and economic infrastructure of Bukhara region, affected by strong winds on April 27-28, 2020, additional funds in the amount of 500 billion soums were allocated to support the population affected by the emergency for Sardoba reservoir and infrastructure restoration.
At the same time, budget transfers in the amount of 626 billion soums were allocated to local budgets from the republican budget in order to prevent temporary cash gaps caused by untimely receipts of revenues to local budgets due to the pandemic, and timely financing of fixed costs in the reporting period. Thanks to the measures taken to support the population and business entities during the coronavirus pandemic, 7669 small firms, small businesses and individual entrepreneurs received preferences in the amount of 132.7 billion soums for extending the deadline for paying taxes on property, land and water until October 1, 2020.
Japanese company invested in the construction of a four-star hotel in Tashkent. Construction of a four-star hotel complex, which will be decorated in the national style, has begun in Tashkent. The Japanese company has invested $ 13 million in the construction.
H.I.S. Hotel Holdings Co. Ltd is building a hotel on the 2nd section of the Abdulla Qadiri Park, located on the street of the same name in the capital. A territory with a total area of 0.5 hectares has been allocated for the complex. Of the $ 13 million in direct investment in the hotel, 5.8 million were spent in January-June 2020. More than 100 workers are working on the construction site, the basements and the first floor of the building have already been completed.
The commissioning of the facility is scheduled for the end of 2021. The hotel will have 140 rooms, its opening will create 73 jobs. According to experts of the State Committee for Tourism, according to the Presidential Decree “On Measures to Implement the Investment Program of the Republic of Uzbekistan for 2020-2022”, 14 projects in the tourism sector are planned in Tashkent, the total cost of which amounted to 429.5 million US dollars. Of these, $ 420 million is foreign direct investment. By June this year, $ 45.4 million has been spent.
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