Shavkat Mirziyoyev has signed the law on Uzbekistan's state budget for 2025.

The consolidated budget deficit for 2025 is set at 3% of GDP, which is lower than the 2024 figure of 4%.

The maximum amount of new external borrowings on behalf of the state is determined at $5.5 billion, of which $3 billion is allocated for budget support (compared to $5 billion in 2024). The limit on the issuance of government bonds has been increased to 30 trillion sums, up from 25 trillion sums in 2024.

The law stipulates that turnover tax, land taxes, and property taxes for legal entities, as well as income from leasing state assets, will flow into local budgets. An exception is made for large taxpayers who will continue to pay land and property taxes to the budgets of the regions—Tashkent and Karakalpakstan.

Revenue from the privatization of state assets will be allocated between local and regional budgets. At the same time, the share of excise revenues from alcohol sales in regional budgets has been reduced to 30%.

If, within six months, budget revenues fall below the planned levels and there are no prospects for meeting forecasts by the end of the year, a reduction in expenditures (sequester) is provided. If the reduction exceeds 3%, the decision is made by the Oliy Majlis; for a reduction of 3% or less, such a decision is made by the Cabinet of Ministers.