Execution of the state budget for the first half of 2026. The deficit decreased to 14 trillion soums

State budget execution for the first half of 2026. Deficit decreased to 14 trillion soums

In the first half of 2026, the deficit of the consolidated budget of Uzbekistan amounted to 0.7 percent of GDP. This was announced on September 15 at a meeting of the Legislative Chamber of the Oliy Majlis by Deputy Prime Minister, Minister of Economy and Finance Jamshid Kuchkarov.

It is noted that during the reporting period, economic growth reached 8.5 percent.

At the same time, market services increased by 16.9 percent, construction — by 13.3 percent, industry — by 8 percent, and agriculture — by 4.7 percent.

For January-June, state budget revenues amounted to 207 trillion soums. This is 43.7 percent, or 63 trillion soums, more than in the same period last year. Of this amount, 149 trillion soums came from the Tax Committee receipts, and 41 trillion soums — from customs receipts.

In the first half of the year, personal income tax revenues grew by 18.5 percent, VAT — by 21 percent, excise tax — by 12 percent, and property and land taxes — by 25.5 percent. The most notable growth was in corporate income tax revenues, which increased 2.3 times. This is due to the fact that the price of gold turned out to be higher than forecasted, as well as the improvement of financial results of enterprises due to cost reduction.

For the first 6 months of 2026, state budget expenditures amounted to almost 206 trillion soums, which is 32 trillion soums more than a year earlier.

In particular, 49.5 trillion soums were directed to the education sector. This is 5.4 trillion soums more compared to the same period in 2025. Also, 23 trillion (+2.8 trillion) was allocated to healthcare, and more than 2 trillion soums to sports.

During the reporting period, more than 8 trillion soums were allocated to agriculture and water management, and almost 7.3 trillion soums to benefits, material assistance, and compensations.

At the end of the first half of the year, consolidated budget revenues amounted to 287.2 trillion soums, and expenditures — 301.2 trillion soums. The budget deficit stood at 13.9 trillion soums, or 0.7 percent of GDP. For comparison: in the same period of 2025, the deficit was 32.6 trillion soums and 1.8 percent.