Tashkent, Uzbekistan (UzDaily.com) -- The Navoi Mining and Metallurgical Combine (NGMK) is expected to become Uzbekistan’s largest taxpayer in 2023. This is stated in the publication "Budget for Citizens" of the Ministry of Economy and Finance.

According to the publication, NGMK should provide 14.8% of revenues to the state budget of Uzbekistan.

Among the major taxpayers in 2023 are Almalyk GMK (8.1%). Uzbekneftegaz (1.8%), Uztransgaz (1.7%), Khududgaztaminot (1.2%), UzBAT (1.1%), Uzavtosanoat (0.9%), Uzmetkombinat (0.4%), Uz- Kor Gas Chemical (0.6%) and Bukhara Oil Refinery (0.6%).

The publication notes that Uzbekistan’s budget revenues will largely depend on the economic situation at these enterprises.

In 2023, despite the persistence of strong domestic demand, a slowdown in economic growth is forecast. Economic growth is projected to be lower than in 2022 – at the level of 5.3%.

As economic activity recovers, GDP growth will accelerate to 5.6% and 6% in 2024-2025, respectively. However, in the face of ongoing uncertainty, when there are various risk factors, these forecasts remain unstable, the Ministry notes.