The Ministry of Economic Development told about the forecasts for GDP and inflation, as well as the fact that VAT and corporate income tax will remain unchanged.
The forecast for Uzbekistan's GDP by 2030 has been improved from $160 bln to $200 bln, and per capita GDP from $4000 to $5000. First Deputy Minister of Economy and Finance Ilkhom Norkulov said.
“As one of the priority tasks, the president has set before us the reduction of the state budget deficit next year to 3% of GDP, and the inflation rate should not exceed 7%. Gradually in 2026, inflation should be kept at 5-6%, and from 2027 - 5% and below,” said Ilkhom Norkulov.
According to him, taking into account that GDP has gradually increased to $100 billion, this year this figure is expected to reach $110 billion, and by 2030 the GDP is expected to reach $200 billion.
Ilkhom Norkulov also said that the president has instructed to develop a new program taking into account that there are huge opportunities for localization in large industrial sectors such as copper, gold, metal processing and others.
Deputy Minister of Economy and Finance Ahadbek Khaidarov emphasized that next year the main task will be economy and stability. Instructions have been given on the effective use of every sum of the state budget.
He noted that on the instructions of the head of state, one of the criteria for evaluating each head of a state agency will be to consider the issue of effective spending of budgetary funds.
Ahadbek Khaidarov also spoke about the main tax directions in 2025.
“Next year, the rates on a number of taxes, including VAT, corporate income tax and others, will remain unchanged. This will be the basis for increasing economic attractiveness for entrepreneurs and investors,” the deputy minister said.
Reprinted from https://uznews.uz/
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