Uzbekistan’s budget deficit widened to UZS 59 trillion ($4.7bn) in 2023, equal to 5.5% of GDP, according to the Ministry of Economy and Finance. Revenues stood at $25.4bn and expenditures around $30bn. Economist Otabek Bakirov noted that the deficit has increased over the past five years, growing from $1bn in 2019 to last year’s $4.7bn. The Mirziyoyev administration initially targeted a maximum 2023 deficit of 3% for 2023, but the limit was breached due to rising state expenditures. The cap on external debt was also raised. It was moved up from $4.5bn to $5.5bn. In 2M24, the deficit amounted t…