The worst thing is that development of the economy is hampered by serious miscalculations in definition and implementation of promising major projects, direction of foreign loans for irrational cases, said the President in his Address to the members of the Senate and deputies of the Legislative Chamber of the Oliy Majlis.
For example, the Ustyurt Gas Chemical Complex built in Karakalpakstan does not bring the expected economic profit. We can also see such deplorable situation at the example of social programs related to pressing needs of our people. For example, over the past 10 years more than 618 million dollars of foreign loans were attracted within the framework of 17 projects in order to provide the population with drinking water. None of the started projects has been completed. Drinking water still remains an unfulfilled dream for many people.
The Head of our state noted that it is necessary to create an effective system of attracting loans and investments from abroad, learn how to properly use each loan, in this matter we must adhere to the principle of “measure seven times, cut once”.
