The Finance Minister Timur Ishmetov said that in 2020 the state budget received 12.8 trillion soums less from some taxes due to the decline in economic activity, and elaborated on how the deficit was covered.
“Compared to the forecast at the beginning of the year, VAT collections fell by 13 trillion soums and the target was achieved by 70.5%. Taxes from turnover topped 1.1 trillion soums or 55%, personal income taxes - 927 billion soums or 94% to the forecast, and property taxes - 395 billion soums or 83%. As a result, forecasts were revised before the end of the reporting year.
The prompt action taken by the government also offset the above-mentioned losses due to other factors that were beneficial to our budget, he noted.
In particular, due to the fact that the price of gold was higher than the forecast at the beginning of the year ($ 1,350) (average annual $ 1,768), an additional income of 9.3 trillion soums was achieved.
The Central Bank's profit of 2.8 trillion soums (133 billion soums in 2019) and the transfer of 385.3 billion soums from the extra-budgetary funds of ministries and departments to the budget (according to the decision of the Cabinet of Ministers No. 232) also helped to cover part of the losses.
In addition, due to the government's serious approach to the implementation of the State budget law for 2020, 1.1 trillion soums (235 billion soums in 2019) worth of dividends and net profits of state-owned enterprises were transferred to the budget as additional revenue (gold and copper mining sector). except for enterprises),” the Minister said in his report to the Senate.
According to him, last year the state budget revenues stood at 132.9 trillion soums. 77.9% of these funds were formed from tax revenues, 18.6% from customs revenues and 3.5% from other revenues. Budget expenditures amounted to 144.1 trillion soums.
“The increase in expenditures was due to the fact that 12.8 trillion soums were contributed from the budget through the Anti-Crisis Fund.
Last year, budget-financed organizations received 46.1 trillion soums in salaries and equivalent payments, as well as 9.6 trillion soums in salary allocations.
74 trillion soums from the state budget, or 51.5% of total expenditures, were spent on social sphere.
Of this, about 30 trillion soums were contributed on education and 19.4 trillion soums on health care, which is 20.5% more than in 2019.
