Free budget funds of Uzbekistan will be stored in banks

Almaty. June 1. Silkroadnews - The Cabinet of Ministers of Uzbekistan adopted a resolution, according to which the temporarily free budget funds will be placed on bank deposits, and the proceeds - directed to replenish the budget, reports Trend.
The funds will be placed in bank deposits for up to nine months of one fiscal year at banks, selected on a competitive basis. The right to participate in the competitions will have commercial banks with state share of at least 25% of the share capital.
Revenues from placement of temporarily available funds on deposit, will be monthly forwarded to the income of the republican budget.
If necessary, the Ministry of Finance may require early repayment of the funds placed on deposit in accordance with the terms of early repayment of the Agreement.
In case of delayed refund, the Ministry of Finance may recover the debt by issuing collection orders for any of their accounts.
In Uzbekistan, there are now 26 commercial banks.