President of Uzbekistan Shavkat Mirziyoyev signed the law on the state budget for 2026, reports Gazeta.uz. The document, developed with global economic risks in mind, forecasts GDP at 1,976 trillion soums (approximately $160 billion) and economic growth of 6.6%, with inflation capped at no more than 7%, Gazeta.uz reports.
Consolidated budget revenues are set at 515.8 trillion soums (about $41.8 billion), with expenditures at 567.7 trillion soums (around $46 billion). The budget deficit will amount to 60.1 trillion soums (approximately $4.87 billion), staying within the 3% of GDP limit.
The social sector will receive 220.1 trillion soums (about $17.8 billion), or 54.7% of all expenditures. Education is allocated 9.4 trillion soums (roughly $761 million)—1.4 times more than in 2025—and healthcare will get 4.8 trillion soums (about $389 million), a 1.7-fold increase.
The “Initiative Budget” program will receive 6 trillion soums (approximately $486 million), including 496 billion soums (around $40 million) for parliamentary initiatives and 506 billion soums (about $41 million) for co-financed community projects.
Total investments into the economy are expected to reach at least 400 trillion soums (about $32.4 billion). Key tax rates will remain unchanged.
External borrowing is capped at $5 billion, of which $2.5 billion is earmarked for investment projects. The ceiling for public-private partnership (PPP) obligations is set at $6.5 billion, and government bond issuance is limited to 30 trillion soums (approximately $2.43 billion).
The Cabinet of Ministers’ reserve fund has been increased to 1.2 trillion soums (about $97 million) to enhance the government’s capacity to respond swiftly to emerging challenges.
Revenues for regional budgets (Karakalpakstan, regions, and Tashkent) are set at 75.98 trillion soums (around $6.15 billion), with expenditures at 95.63 trillion soums (approximately $7.74 billion). The republican budget will provide $1.6 billion (19.7 trillion soums) in transfers to regions.
Starting in 2026, funding for schools, kindergartens, and academic lyceums attached to universities will shift to local budgets, reinforcing decentralization and enhancing local governments’ (hokimiyats’) responsibility for regional development.
CentralasianLIGHT.org
December 30, 2025