“8 trillion soums will be allocated for the initiative budget” – State program

The state program for the implementation of the development strategy of New Uzbekistan for 2022-2026 in the “year of caring for people and quality education” was signed by the President.

It defined the measures to develop “New Uzbekistan” blocks and satisfy the population’s demand for housing.

In particular,

In 2023, the annual volume of new housing construction by private contracting organizations will increase by 1.6 times and reach 90 thousand in “New Uzbekistan” blocks and 161 other blocks.

At the same time, during the design and construction of housing and social and commercial facilities, construction of parking lots, including mandatory multi-storey and underground parking lots, will be ensured.

32,000 citizens will receive mortgage loans based on market principles, and 11,000 citizens will receive a subsidy to cover part of the initial contribution and interest payments.

As part of the new procedure of providing the population with housing through mortgage loans based on market principles, the “My first house” program will be developed and implemented as a pilot program in Tashkent region for citizens who do not have housing based on property rights.

In order to issue and place mortgage bonds of “Uzbekistan Mortgage Refinancing Company” on international and local stock exchanges, the authorized capital of the company will be increased to the equivalent of $100 million. In this case, the funds involved in the placement of mortgage bonds will be placed in banks as a resource for mortgage loans.

In order to expand the initiative budget practice and the financial independence of mahallas:

In 2023, 8 trillion soums will be allocated from the state budget to finance projects based on public opinion, of which 4 trillion soums will be allocated for the “Prosperous village” and “Prosperous mahalla” programs.

In 2023, 4 trillion soums will be allocated from the State budget to finance the activities carried out within the framework of project programs for the development of neighborhood infrastructure.

The Ministry of Economy and Finance is tasked with creating and implementing an effective system of financing projects based on public opinion and votes collected on the “Open budget” portal within 3 months. In this, special attention will be paid to the introduction of clear mechanisms for organizing the voting process impartially and without administrative interference.