Tuesday, 04, August, 2020

In 2020, Uzbekistan will take steps to borrow up to $ 1 billion from international financial institutions through soft loans and other sources to support the budget.

The President of Uzbekistan signed the Priority measures to mitigate the negative impact of the coronavirus pandemic and the global crisis on sectors of the economy decree.

The Cabinet of Ministers of the Republic of Uzbekistan shall:

-take measures to borrow additional funds of up to $ 1 billion from international financial institutions and other sources to support the 2020 State Budget and the Anti-Crisis Fund to support the budget, , as well as real sector enterprises, exporters and banks;

- approve, within two weeks, comprehensive measures to find untapped reserves by improving tax and customs administration, ensure full payment of calculated taxes, reduce the "shadow" economy and introduce new effective forms of tax and customs administration.

The Ministry of Finance of Uzbekistan shall submit to the President Administration and the Cabinet of Ministers on a monthly basis information on the implementation of comprehensive measures and the use of funds from the Anti-Crisis Fund.

Earlier, it was reported that the Anti-Crisis Fund was established in Uzbekistan, to which were contributed 10 trillion soums.

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