TASHKENT, Uzbekistan, September 13. Uzbekistan increased gas imports by 7 times, raising budget deficit rate to 5.7 percent, Trend reports.
In the first half of 2023, the revenues of the consolidated budget of the Republic of Uzbekistan amounted to 153.8 trillion Uzbek soums (approximately $12 billion), expenses – 180.8 trillion Uzbek soums (approximately $14 billion).
As per data provided by Uzbekistan’s Ministry of Finances, despite the volume of natural gas production in the country amounting to 23.6 billion cubic meters (a decrease of 9.6 percent compared to the same period last year), the volume of gas imports in the country amounted to 2.6 billion cubic meters and increased by 7.2 times compared to the same period last year (364 million cubic meters).
After an increase in natural gas imports, consolidated budget expenditures exceeded revenues by 27 trillion Uzbek soums ($2.3 billion), creating budget deficit, which was mainly covered by previous year's funds and borrowings.
The consolidated budget deficit amounted to 26.9 trillion soums ($2 billion) or 5.7 percent of gross domestic product (GDP) fixed at 470 trillion soums ($38 billion), although the budget law of 2023 stated that the consolidated annual deficit should not exceed 3 percent.
This significant increase in import of natural gas may be connected to abnormal cold observed throughout Uzbekistan in January 2023 and the government’s measures for mitigation of its consequences.
