On June 5, a meeting under the chairmanship of the President of the Republic of Uzbekistan Shavkat Mirziyoyev was held on issues of increasing revenues to local budgets and ensuring price stability by increasing production, enhancing personal responsibility of heads of executive bodies, tax and financial departments at places for preventing inflation. 

The meeting was attended by the Prime Minister and his deputies, heads of ministries and departments, companies, business associations and banks, as well as the Chairman of the Jokargy Kenes of the Republic of Karakalpakstan, khokims of the regions and the city of Tashkent via videoconferencing. 

In accordance with the Action Strategy implemented in the country, consistent reforms are being carried out on expanding the scale of modernization and diversification of the economy, reducing imbalance in socio-economic state of the regions through accelerated recovery of lagging districts and cities. Thus, the organization of new industrial enterprises and small industrial zones, attraction of funds from large business associations, bank loans and foreign investment are important factors in increasing the revenue side of local budgets in subvention-dependent cities and districts, development of manufacturing industries. 

The Decree of the President of the Republic of Uzbekistan “On measures of expanding the powers of state authorities at places in forming local budgets” of June 7, 2017 contributes to stable financing of programs for integrated development of territories, raising real incomes on this basis, the level and quality of life of the population. 

At the meeting, the current state of ongoing activities on increasing additional revenues to the budget and ensuring stable level of inflation was analyzed in a critical spirit, the most important tasks in this direction were identified. 

Source: UzA