The Senate has approved amendments to Uzbekistan's state budget for 2024.

It has been noted that the law allocates an additional 2.5 trillion sums for increasing the charter capital of commercial banks to support entrepreneurship and small business projects, 1.3 trillion sums for carrying out construction and repair work to address the most pressing infrastructure issues in mahallas, and 840.5 billion sums for the Educational Loan Financing Fund to meet the high demand for educational loans and to cover debts incurred last year.

For socio-economic development and the implementation of state-significant initiatives, additional funds amounting to 524.8 billion sums are allocated to the reserve fund of the Cabinet of Ministers, and 200 billion sums to the Fund for Supporting Young Entrepreneurs.

“The law optimizes certain expenditures by reducing duplicate positions, saving budgetary funds based on the planned resources for capital investments in design, construction (reconstruction), and equipping facilities, as well as the capabilities for utilizing the current year's budget expenditures,” it was stated at the meeting.

According to the regulatory legal act, expenses in the republican budget will increase by nearly 10 trillion sums.

It is reported that senators have approved the law, emphasizing the importance of all amendments to the law on the state budget for 2024 being aimed at “targeted, effective, and results-oriented expenditure of funds allocated from the republican budget, as well as finding solutions to pressing issues and their financing.”

Let us remind you that today, senators also approved the law on the state budget for 2025.