Tashkent, Uzbekistan (UzDaily.com) -- At the tenth plenary session of the Senate, the discussion centered on the Law “On Amendments to the Law of the Republic of Uzbekistan “On the State Budget of the Republic of Uzbekistan for 2020”.

It was noted that the global coronavirus pandemic had a negative impact on all areas. In particular, this has led to a number of problems, such as a sharp decline in production and consumption, falling prices for raw materials in world financial markets.

Nevertheless, our country has taken prompt and important measures to mitigate the negative consequences of the pandemic. These include measures to ensure macroeconomic stability, uninterrupted functioning of sectors and spheres of the economy, stimulate foreign economic activity, provide effective social support to the population, and prevent a sharp drop in their incomes.

This Law was developed in accordance with the Decree of the President of the Republic of Uzbekistan from 19 September 2020. According to the Decree, the expenses of the Anti-Crisis Fund were increased from 10 trillion. soums to 13.4 trillion soums, as the coronavirus pandemic lasts longer than expected, leading to additional costs.

At the same time, the limited volume of new contracts to attract external debt to be concluded increases to US$5.5 billion.

In addition, in accordance with Article 6 of the Law "On the State Budget", a change is made to the allocations allocated from the republican budget for the administrators of budgetary funds of the first level by 10 percent or more.

An update is also made to the forecast of income of state trust funds for 2020 and the Fund for Reconstruction and Development of the Republic of Uzbekistan and their balances at the beginning and end of the year in the table of expenses.

The members of the Senate approved this document.