Deputies adopted the draft state budget for 2026

Deputies reviewed and adopted in the first reading the draft state budget for 2026, which forecasts revenue volumes of 515.4 trillion soums next year.

The document stipulates that the real growth of the country’s gross domestic product in 2026 will be 6.6% and will reach $4,686 per capita. At the same time, growth rates are projected to be 6.4% in industry, 4.2% in agriculture, 14.5% in market services, and 10.2% in construction.

In addition, the authorities expect the inflation rate to decrease. The volume of consolidated budget revenues for 2026 is planned to be set at 515.4 trillion soums, and expenditures — at 567 trillion soums. At the same time, the consolidated budget deficit will be 3% of GDP, and the maximum external debt will decrease to $5 billion compared to the current year.

During the discussion, the deputies noted that maintaining basic tax and customs rates at the previous level in 2026 will ensure the growth of budget revenues through economic growth and expansion of the tax base. It was emphasized that systemic measures to improve tax administration will serve to create a competitive environment in the country’s economy.

The specialists also approved measures to continue implementing measures to increase the amounts of pensions, scholarships, and benefits above the annual inflation rate in order to improve the quality of life of the population, increase the real incomes of citizens, and strengthen social protection. Thus, the document stipulates that 220 trillion soums will be allocated to the social sphere in 2026, which is almost 55% of all expenditures.

Also, 25.5% of state budget funds are planned to be allocated to education and science, 12.1% to healthcare, and 4.2% to social protection of the population. As a specific document, it defines measures aimed at increasing local budget revenues, expanding the powers of local Councils of People’s Deputies, strengthening the revenue base of district and city budgets, and increasing their independence.

It is planned that this will allow for faster economic solutions to the social problems of the regions and the effective elimination of existing problems in this area. During the discussions, the deputies noted the need for parliamentary and deputy control to ensure the effective and rational use of budget funds by government bodies and organizations.

Also, the specialists put forward proposals and recommendations on increasing budget revenues, further expanding the tax base, reducing the “shadow economy”, eliminating corruption factors and bureaucratic obstacles in the use of budget funds, after which the document was adopted. Before the project comes into force, it will have to pass two more readings in the Legislative Chamber, be approved by the Senate, and be signed by the president.

Earlier, it was reported that the base tax rates in Uzbekistan would remain unchanged. The Ministry of Finance presented the draft budget message for 2026-2028.