Tashkent, Uzbekistan (UzDaily.com) —  During a session of the Legislative Chamber of the Oliy Majlis, the draft law on the state budget for 2025 was approved in the first reading.

The Deputy Prime Minister and Minister of Economy and Finance, Jamshid Kuchkarov, presented the concept of the draft law during the meeting.

The draft maintains a social focus for state budget expenditures, ensuring funding for education, healthcare, and social protection systems that meet the needs of the population and align with international standards.

A total of 20 trillion soums will be allocated to poverty reduction. The draft also includes measures to enhance the targeting and efficiency of funds allocated for social protection.

The draft law foresees the preservation of main tax rates for 2025, with an expanded revenue base achieved by reducing the "shadow economy" and gradual harmonization of tax, customs, and budget policies with World Trade Organization requirements.

The Uzbek economy is projected to grow by 6% in real terms compared to 2024, with GDP per capita expected to reach US$3,251.

Other growth projections include 6.1% in industry, 4.1% in agriculture, 14.5% in market services, and 14.2% in construction.

Inflation is forecasted at 7%. The draft budget sets GDP growth at 6%, with state budget revenues estimated at 308.5 trillion soums and expenditures at 344.6 trillion soums.