Information on the work done in 2022 as part of the new procedure for providing housing for the population on mortgage loans

In order to further expand the volume of mortgage loans, Decree of the President of the Republic of Uzbekistan No. PD-5886 of November 28, 2019 introduced a new procedure for providing housing to the population through mortgage loans based on market principles.

1. Mortgage loans allocated under the new order.

In 2020-2022, 67,947 citizens were issued mortgage loans in the amount of 15.1 trillion soums.

 In 2020, mortgage loans totaling 1.7 trillion soums were issued, in 2021 the amount of loans increased by 3.1 trillion soums and amounted to 4.8 trillion soums.

In 2022, 37,418 citizens were issued mortgage loans in the amount of 8.5 trillion soums.

These indicators increased 1.7 times in number (14,816 citizens) and 1.8 times in number (3.7 trillion soums) compared to the corresponding period of 2021.

2. Subsidies paid on mortgage loans.

In order to support people in need of better housing conditions, a mechanism has been introduced for the payment of subsidies from the state budget to reimburse part of the initial payment and mortgage interest.

 During 2020-2022, subsidies in the amount of 1.2 trillion soums were allocated to citizens on mortgage loans.

 In 2020, subsidies were paid in the amount of 65.8 billion soums, and in 2021 - in the amount of 304.7 billion soums, an increase of 238.9 billion soums.

In 2022, 854.4 billion soums of subsidies were paid to citizens, of which 17,293 citizens received 514.5 billion soums to cover part of the initial payment, and part of the interest payment of 339.9 billion soums of subsidies was paid to 28,090 citizens.

These figures increased 2.8 times (549.8 billion soums) compared to the corresponding period of 2021.

3. Measures taken.

• And the borrowed funds raised from the Asian Development Bank ensured the full fulfillment of the conditions of the 2nd tranche (14 tasks) and attracted US $ 25 million to support the budget.
• And to cover part of the interest costs on the allocated mortgage loans, a centralized repayment of the subsidy has been introduced. (Resolution of the Cabinet of Ministers No. 331 of June 14, 2022)
• And wages and other incomes of citizens allocated for payments on mortgage loans that received subsidies on mortgage loans were exempt from personal income tax.
• JSC "Mortgage Refinancing Company of Uzbekistan" allocated 300 billion soums of budget credit to provide mortgage loans in the secondary market. (Decision of September 22, 2022, PR-377)
•  JSC "Mortgage Refinancing Company of Uzbekistan" has additionally attracted borrowed funds in the amount of US $ 150 million from the Asian Development Bank to refinance mortgage loans from commercial banks.
• To cover part of the down payment on mortgage loans, an automated procedure for the payment of subsidies has been introduced. (Resolution of Cabinet of the Ministers-128 of February 14, 2022)

Infrmation Service

Ministry of Economy & Finance