The 2021 State Budget Bill was passed at the plenary session of the Senate on Friday. In accordance with the document, the budget revenues are planned to be at 21.3% of GDP, 147.2 trillion soums, US$ 14 billion and expenditures - 24% of GDP, 165.8 trillion soums, US$ 15.6 billion. The budget deficit, thus, is at 2.7% of GDP, or 18.6 trillion soums.
The 2021 state budget for parameters were approved taking into account the projected GDP growth of 5.1% to 2020, inflation rate - at 9-10%, industrial production - 5.8%, agricultural products - by 2.7%.
"The main axes and indicators of macroeconomic policies are formed on the basis of the assumptions that the coronavirus pandemic will continue next year," the Senate press service said.
The 2020 state budget was approved last year with 0.5% to GDP deficit, or 3.4 trillion soums. The revenue side was projected at 20% to GDP, or 128.46 trillion soums, expenses - 20.5% of GDP, or 131.1 trillion soums. However, due to increased spending in the backdrop of the coronavirus pandemic, the budget parameters were revised: its deficit this year is projected at 3.3% of GDP, or 19.7 trillion soums.
