Tashkent, Uzbekistan (UzDaily.com) -- At the 36th plenary session of the Senate, the Law "On the State Budget of the Republic of Uzbekistan for 2023" was considered.

This Law defines the summary parameters of the Consolidated Budget of the Republic of Uzbekistan for 2023 and budget targets for 2024-2025.

It was noted that according to the Law, the parameters of the State budget are calculated based on the fact that in 2023 the growth rate of gross domestic product in the economy of our country will be 5.3 percent, and the consumer price index - 9.5% compared to December 2022.

It is expected that the revenues of the Consolidated Budget of the Republic of Uzbekistan in 2023 will amount to 310.7 trillion soums, and expenditures - 343.2 trillion soums.

The law for 2023 sets the maximum volume of new agreements to be signed on behalf of the Republic of Uzbekistan (the government of the Republic of Uzbekistan) and under the guarantee of the Republic of Uzbekistan to attract external borrowings, set at US$4.5 billion.

State budget expenditures in 2023 (including transfers to state trust funds) amount to 257.7 trillion soums, 24.1% in relation to GDP.

The senators paid serious attention to the amount of State budget funds allocated to the social sphere. It was noted that spending on education amounted to 58.4 trillion soums, on healthcare - 28.4 trillion soums, on culture - 2.5 trillion soums, on sports - 2.3 trillion soums, on measures for the further development of science in 2023, it is planned to allocate 1.8 trillion soums.

In the State Budget for 2023, 18.1 trillion soums are allocated to finance priority areas of social protection of the population.

Along with this, next year it is planned to pay 1.1 trillion soums of subsidies from the State budget to cover the down payment and part of the interest on mortgage loans to more than 52,000 citizens who do not have a high income and need to improve their living conditions.

The expenditures planned to be directed to the economy amount to 36.7 trillion soums, 3.4% in relation to GDP, 14% of total expenditures. It is planned to use these funds mainly to finance the costs of implementing drip irrigation measures, geological exploration work and works on the improvement of settlements and the provision of housing and communal services.

This Law was approved by members of the Senate.