Uzbekistan’s approved 2025 framework targets 6% real GDP growth, with UZS 431tn of consolidated revenue and a deficit capped at 3% of GDP.
Uzbekistan’s 2025 budget framework assumes real GDP growth of 6%. In nominal terms, consolidated revenue is set at UZS 431tn and expenditure at UZS 480.5tn; these are approved budget parameters rather than realised outturns.
The consolidated deficit is capped at 3% of GDP, while the combined State Budget and state trust-fund deficit is set at 2%. State Budget revenue is UZS 308.5tn and expenditure, including trust-fund transfers, is UZS 344.8tn.
The framework defines the sovereign funding envelope for 2025 and the capacity for public investment. For investors, the key variables are execution against the deficit ceiling, the financing mix and any contingent liabilities from SOEs or infrastructure programmes.
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