Uzbek Senate approves 2015 budget

By bne IntelliNews November 14, 2014

The Senate of Uzbekistan's parliament approved the 2015 state budget with a planned deficit of UZS1.8 trillion ($752.3mn at the official exchange rate) or around 1% of forecast GDP, local news website reported on November 13.

Budget revenues for 2015 are expected at UZS36.2 trillion, whereas expenses are estimated at UZS38 trillion.

The budget was drafted taking into account an expected GDP growth of 8% y/y in 2015 and inflation is forecast at 5.5-6.5%. The IMF expects the country to grow at 7% y/y in 2014, down from 8% in 2013.

The parliament's lower chamber approved the budget bill on October 22.

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