State budget revenues increased by nearly 44 percent in six months

**State budget revenues increased by nearly 44 percent in six months**

Revenues to the state budget of Uzbekistan increased by 63 trillion soums in the first half of 2026. This was announced by the Deputy Prime Minister — Minister of Economy and Finance Jamshid Kuchkarov at a Senate meeting on September 15.

### Economic growth accelerated

The government representative presented a report to the senators on the six-month execution of the state budget. According to it, in January–June, Uzbekistan's gross domestic product increased by 8.5 percent. For comparison, this figure was 7.2 percent in the first half of 2025.

In the first six months of this year, market services in the country grew by 16.9 percent, construction by 13.8 percent, industry by 8 percent, and agriculture by 4.7 percent.

"During the reporting period, the growth of real incomes of the population amounted to 9.2 percent, the growth of retail trade turnover was 20.2 percent, and investments in fixed capital reached 17.5 percent. Excluding gold, the export volume grew by 31.6 percent, and the volume of loans allocated to the economy increased by 11.8 percent. These were the factors stimulating our gross domestic product," the minister said.

During the reporting period, annual inflation in the republic was 6.4 percent, which is 2.3 percentage points lower compared to 2025.

### Treasury revenues rose sharply

Jamshid Kuchkarov stated that within half a year, state budget revenues reached 207 trillion soums. This figure is nearly 63 trillion soums or 43.8 percent more compared to the corresponding period of 2025.

"Out of these revenues, 149 trillion soums (72 percent) were generated by the Tax Committee, and 41 trillion soums (20 percent) by the Customs Committee. High activity in the economy, expansion of the tax base, and measures implemented to improve tax and customs administration ensured stable growth of budget revenues," the head of the ministry said.

Within the structure of revenues, corporate income tax receipts reached 51 trillion soums, increasing 2.3 times compared to the corresponding period of 2025. It was noted that the rise in gold and copper prices on the world market, as well as the improvement of financial results through cost reduction at enterprises, played an important role in this growth.

"Due to the growth of wages, creation of new jobs, and measures implemented to legalize informal jobs, revenues from personal income tax increased by 18.5 percent and amounted to 24 trillion soums. As a result of the expansion of trade turnover and the increase in the number of value-added tax payers, VAT revenues reached 43.5 trillion soums, increasing by 21 percent compared to the corresponding period of last year," the Deputy Prime Minister said.

Revenues from excise tax increased by 12.6 percent compared to a year earlier, totaling 11.4 trillion soums. Property and land tax collections amounted to 11 trillion soums, which is 25.5 percent more than in the corresponding period of 2025.

### What were the revenues spent on?

Jamshid Kuchkarov said that in the first half of 2026, state budget expenditures amounted to 206 trillion soums. This is 32 trillion soums more compared to the first half of 2025, representing an 18.4 percent increase.

"The amount of funds directed to the social sphere constituted 106 trillion soums or 51.5 percent of total expenditures. In this regard, 49.5 trillion soums were allocated to the education sector, which is 5.4 trillion soums more compared to the corresponding period of last year," the minister said.

During the half-year, more than 2 trillion soums in subsidies were allocated to non-state kindergartens established on the basis of public-private partnership. As a result, the activities of 815 new non-state kindergartens were launched, creating more than 42 thousand new places in them. Also, 406 billion soums were spent on construction and repair work carried out in 150 kindergartens.

"During the reporting period, 78.4 percent of children aged 3-6 across the republic were covered by preschool education. More than 34 trillion soums were allocated to general secondary education, which is 3.2 trillion soums more compared to the corresponding period of last year. Of this, 433 billion soums were directed to sector development programs. More than 2 trillion soums were allocated for the construction of new schools, reconstruction, major repairs, and equipping. In addition, as a result of the conditions created to expand private sector participation in the field, the number of private schools reached 551 across our country," the Deputy Prime Minister said.

During the reporting period, 23 trillion soums were directed to the healthcare sector, which is 2.8 trillion soums more compared to the corresponding period of 2025. In this regard, 16.3 trillion soums were spent on wages and social tax payments of medical workers, and 1.7 trillion soums on the provision of medicines. 18 trillion soums were allocated to the State Medical Insurance Fund.

"822 billion soums were directed to healthcare programs. 229 billion soums were spent on child vaccination activities, covering 1.4 million children with vaccination against 13 types of infectious diseases. During the reporting period, 716 billion soums were allocated for construction and repair work in 241 medical institutions," the minister reported.

During the reporting period, more than 2 trillion soums were directed from the budget to support the sports sector.

Within six months, 7.3 trillion soums were allocated for benefits, material assistance, and compensation payments. This figure is said to be 800 billion soums more compared to the corresponding period of 2025.

"In particular, more than 1.8 trillion soums in child benefits and material assistance were paid to nearly 600 thousand families. Also, more than 3 trillion soums in benefits were paid to 480 thousand citizens with disabilities. 88 billion soums in subsidies were allocated to 391 thousand needy families for electricity and natural gas expenses," the government representative said.

Jamshid Kuchkarov said that a total of 13.2 trillion soums was spent on the first season of "Initiative Budget" in 2026. At the expense of these funds, 2,192 projects in the country were funded.

According to analyses, Uzbekistan's gross domestic product volume is expected to grow by nearly 8.1 percent in the current year compared to 2025. The growth in 2025 was 7.7 percent. It has also been announced that the country's GDP per capita is expected to exceed 5 thousand dollars in 2027.