Tashkent, Uzbekistan (UzDaily.com) -- The consolidated budget deficit of Uzbekistan made up 5.7% of GDP or 26.9 trillion soums in January-June 2023, according to the report of the Ministry of Economy and Finance on budget execution.

The consolidated budget includes the state budget, budgets of state trust funds, extra-budgetary funds of budgetary organizations and funds of the Fund for Reconstruction and Development (sovereign fund).

In January-June, revenues of the consolidated budget of Uzbekistan amounted to 153.8 trillion soums and expenses - 180.8 trillion soums. The deficit amounted to 26.9 trillion soums, which is 5.7% of Uzbekistan’s GDP (14.4 trillion soums in January-June 2022 or 3.7% of GDP).

The report notes that the Government covered 14.5 trillion soums of the deficit from the balance of funds at the beginning of the year in the state budget, state trust funds, the Fund for Reconstruction and Development and extra-budgetary funds.

Uzbekistan also covered a deficit of 6.7 trillion soums at the expense of public debt, including 1.7 trillion soums - external loans and 5 trillion soums - issuance of government bonds on the domestic market.

The government attracted loans worth 4.2 trillion soums from international financial institutions for the implementation of the state program. Another 1.5 trillion soums of the deficit is covered by revenues from the privatization of state assets.