Tashkent, Uzbekistan (UzDaily.com) — In the first quarter of 2025, Uzbekistan saw a significant acceleration in the growth of state budget revenues, according to data published by the Ministry of Economy and Finance.

The total revenue increased from 52.6 trillion to 63.9 trillion soums, exceeding last year’s figures by 11.3 trillion soums, or 21.5%. For comparison, growth rates in the same period of 2024 amounted to only 11.6%.

The main drivers of this growth were value-added tax (VAT) revenues, which reached 16.4 trillion soums with an increase of 33.3%, excise tax at 4.8 trillion soums, up 29.7%, profit tax at 11.8 trillion soums (+21.6%), as well as personal income tax, which brought in 9.3 trillion soums, rising by 20.8%. Additionally, the budget received substantial sums from land tax—2.1 trillion soums (+16.7%) and property tax—2.1 trillion soums (+23.5%).

The increase in tax revenues indicates a broadening of the revenue base from both individuals and businesses.

Revenues from the water usage tax remained stable at 0.2 trillion soums with no change, while non-tax revenues (including fines, fees, and duties) grew by 35%, reaching 3.6 trillion soums. At the same time, despite tax exemptions and relief for companies operating in the oil and gas sector, revenues from subsoil use tax remained almost unchanged at 4.3 trillion soums.

Earlier, Gazeta reported a reduction in wage expenditures both in absolute terms and as a share of the budget during the first quarter. Funding for benefits, compensations, and material assistance decreased by 22.8%, while healthcare salary expenses increased by only 1.8% compared to the previous year.

For the full year 2024, state budget revenues totaled 274.42 trillion soums, which is 42.7 trillion soums or 18.4% higher than in 2023, surpassing the forecast by 1.5%. VAT revenues reached 59.28 trillion soums (+2.4%), profit tax amounted to 52.6 trillion soums (+29%), personal income tax was 35.38 trillion soums (+18.3%), subsoil use tax totaled 20.17 trillion soums (+31.8%), and excise tax reached 19.06 trillion soums (+20.4%).

State expenditures for 2024 amounted to 310.9 trillion soums, exceeding the 2023 level by 10.6% and the forecast by 10.7%.

About 49% of all budget expenditures were allocated to the social sector. Although the approved funding volume was 151.27 trillion soums, the actual spending reached 152.35 trillion soums, which is 1.07 trillion soums more than planned, with an overall increase in expenditures of 29.83 trillion soums.