Tashkent, Uzbekistan (UzDaily.com) - At the sixteenth plenary meeting of the Senate of the Oliy Majlis, the Law “On Amendments to the Law of the Republic of Uzbekistan “On the State Budget of the Republic of Uzbekistan for 2021” was considered.

It was noted that the implementation of the decisions taken over the past period of the current year, the implementation of the priority tasks of the approved programs require additional sources of funding.

To this end, the Law ensures the stability of the financial basis for the active continuation of the ongoing reforms in order to further strengthen macroeconomic stability, increase the rate of economic growth, as well as ensure the well-being of the population.

In particular, in order to ensure the fulfillment of the tasks determined by the decrees of the President of the Republic of Uzbekistan, it is envisaged to increase the expenditures of the State budget by 13.1 trillion soums.

At the same time, in accordance with the Decree of the President of the Republic of Uzbekistan dated February 3, 2021 No. UP-6155, additional funds are provided:

- 410 billion soums - to improve land, water and road infrastructure around tourist sites;

- 350 billion soums - to provide free economic zones and small industrial zones with the necessary infrastructure;

- 124.2 billion soums - to strengthen the material and technical base of institutions for early detection and treatment of endocrine diseases;

- 80 billion soums - to the El-Yurt Umidi Foundation to increase the number of young people sent to study at prestigious foreign universities by 5 times (from 82 to 350); 

- 64.4 billion soums - to increase by 25% the rates of admission to higher educational institutions under a state grant, increase grants to girls from low-income families by 2 times and bring them to 2 thousand from the 2021/2022 academic year.

When ensuring the execution of the President's decree (No. 5041 of March 27, 2021), adopted in order to continue measures to provide unemployed youth and women in makhallas with lucrative work, to assist them in organizing their own business, it is envisaged:

- an increase in the authorized capital of authorized banks by 1.3 trillion soums to finance family business projects; 

- the allocation of an additional 1.5 trillion soums to finance programs for the development of family entrepreneurship.

At the same time, 6.4 trillion soums (from 13.4 trillion soums to 19.8 trillion soums) are allocated by the Law for the expenses of the Fund for Reconstruction and Development.

From these funds, the following is envisaged:

a) 5.8 trillion soums to the republican budget to ensure internal roads and drinking water supply (3.2 trillion soums) and family entrepreneurship programs (1.5 trillion soums), as well as the construction of other social facilities (1.1 trillion soums) ;

b) 100 billion soums to increase the authorized capital of Turon Bank in order to finance lemon growing projects within the framework of the family entrepreneurship program;

c) 550 billion soums to finance credit lines for projects for the production of finished leather goods, leather goods, as well as products with high added value from fur and wool.

The creation of the Ministry of Tourism and Sports and the abolition of the Capital Market Development Agency also required appropriate amendments to the current Law.

The law was approved by the senators.