Government agencies banned from issuing soft loans to their employees

Government agencies are now banned from issuing soft loans to their employees using off-budgetary funds. This is stated in the presidential decree on measures to ensure the enforcement of the law “On the state budget of the Republic of Uzbekistan for 2020”. 

According to the above document, Shavkat Mirziyoyev instructed to cancel the procedure for allocating soft loans and interest-free loans from off-budgetary funds of ministries and departments for the purchase of housing and cars to employees of these government organizations.

In addition, from January 1, 2020, in budgetary organizations, ministries, departments and state trust funds, the bookkeeping of off-budgetary accounts in national currency will be kept exclusively on a single treasury account.

The Central Bank and the Ministry of Finance are instructed to establish a mutual exchange of information on the movement of funds in the accounts of budgetary organizations and state trust funds in commercial banks.