As part of a new package of measures, the government will compensate part of the interest rate on mortgage loans for young people if the rate exceeds 14%, which corresponds to the current key rate of the Central Bank of Uzbekistan.
In addition, the reforms will affect areas such as education and employment. Starting this year, vocational school students will have the opportunity to participate in the Work and Travel program, which will allow them to receive loans for travel expenses to work abroad. Furthermore, vocational schools and universities will be able to create subsidiaries for the commercialization of scientific developments, receiving grants of up to 1 billion sums for these purposes.
To develop the private educational sector, an Association of Educational Centers will be established, and its members will be granted significant tax benefits. For example, the income tax for teachers will be reduced from 12% to 7.5%, and the social tax will be only 1%. Educational institutions located in remote regions will be able to take advantage of interest-free loans.
The "Second Chance" program will be launched for the social rehabilitation of youth released from places of detention; they will be able to study programming and design for free. Additionally, a Volunteer Support Fund with a budget of over 23 billion sums will be created to finance civic initiatives. The President noted that these measures will help strengthen Uzbekistan's status as one of the leading countries in the youth development index.
