Uzbekistan Approves 2025 Federal Budget with 3% GDP Deficit

Uzbek President Shavkat Mirziyoyev has signed the law "On the Federal Budget for 2025," with the government publishing the official document in the media. The law came into effect on Wednesday, The Caspian Post reports citing Interfax.

"To set the maximum deficit of the consolidated budget of the Republic of Uzbekistan at 3% of GDP for 2025," according to the document.

The law stipulates that the revenue side of the consolidated federal budget be planned at 26.1% of GDP, or 431 trillion sum, around $33.4 billion, and the expenditure side at 29.1% of GDP, or 480.5 trillion sum, around $37.2 billion. The deficit is expected to be 49.5 trillion sum, or $3.8 billion.

The parameters are determined accounting for planned growth in GDP of 6% year-on-year in 2025, with industry up 6.1%, agriculture up 4.1%, and maintaining inflation within 7%.

Uzbekistan's legislative chamber of parliament, or the Oliy Majlis, adopted the law on the 2025 federal budget on December 3 and the Senate approved the law on December 18.

The country's 2024 federal budget envisages a deficit of 4% of GDP, or 52.6 trillion sum, around $4 billion.