The President of the Republic of Uzbekistan Shavkat Mirziyoyev in his Address to the Oliy Majlis noted the need for reviewing the budget system, ensuring openness for the population of its revenue and expenditure parts.

The President of the Republic of Uzbekistan Shavkat Mirziyoyev in his Address to the Oliy Majlis noted the need for reviewing the budget system, ensuring openness for the population of its revenue and expenditure parts. Because, an openness in management of state and society, transparency in distribution and expenditure of the country's budget is an important factor for building a democratic state based on civil society.

The workshop on "Budget transparency and risk assessment in fiscal sphere", organized at the Academy of Public Administration under the President of the Republic of Uzbekistan, provided an opportunity to analyze activity carried out in this sphere, exchange views on international norms regarding publication of information on the target expenditure of public funds.

The event, organized by the Ministry of Finance of the Republic of Uzbekistan jointly with the International Monetary Fund and the World Bank, was attended by members of the Parliament, heads of relevant ministries and agencies, experts of banking, financial and tax systems, leading experts of research institutes and the International Monetary Fund. The principles of openness of information about main directions of tax and budget policy, transparency in distribution and expenditure of the state budget, budget of the state trust funds were discussed at the event.

Participants of the event noted that in Uzbekistan reforms are being implemented in the field of fiscal policy that meet the requirements of the time, taking into account international practice and experience.

Within the framework of the workshop, international experts made presentations on conducting fiscal policy, preparation of state financial statistics on the basis of generally recognized indicators, medium-term budget planning and software.

According to experts, Uzbekistan is actively participating in evaluation process conducted in compliance with the Code of the International Monetary Fund on issues of transparency in fiscal sphere. This shows the country's desire to integration into the international community in terms of ensuring openness of fiscal data.

Following the event, participants agreed that Uzbekistan will participate in open budget survey conducted by the International Budget Partnership, as well as in development of medium-term action plans.

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The fiscal system will be based on principles of openness

The President of the Republic of Uzbekistan Shavkat Mirziyoyev in his Address to the Oliy Majlis noted the need for reviewing the budget system, ensuring openness for the population of its revenue and expenditure parts.

The President of the Republic of Uzbekistan Shavkat Mirziyoyev in his Address to the Oliy Majlis noted the need for reviewing the budget system, ensuring openness for the population of its revenue and expenditure parts. Because, an openness in management of state and society, transparency in distribution and expenditure of the country's budget is an important factor for building a democratic state based on civil society.

The workshop on "Budget transparency and risk assessment in fiscal sphere", organized at the Academy of Public Administration under the President of the Republic of Uzbekistan, provided an opportunity to analyze activity carried out in this sphere, exchange views on international norms regarding publication of information on the target expenditure of public funds.

The event, organized by the Ministry of Finance of the Republic of Uzbekistan jointly with the International Monetary Fund and the World Bank, was attended by members of the Parliament, heads of relevant ministries and agencies, experts of banking, financial and tax systems, leading experts of research institutes and the International Monetary Fund. The principles of openness of information about main directions of tax and budget policy, transparency in distribution and expenditure of the state budget, budget of the state trust funds were discussed at the event.

Participants of the event noted that in Uzbekistan reforms are being implemented in the field of fiscal policy that meet the requirements of the time, taking into account international practice and experience.

Within the framework of the workshop, international experts made presentations on conducting fiscal policy, preparation of state financial statistics on the basis of generally recognized indicators, medium-term budget planning and software.

According to experts, Uzbekistan is actively participating in evaluation process conducted in compliance with the Code of the International Monetary Fund on issues of transparency in fiscal sphere. This shows the country's desire to integration into the international community in terms of ensuring openness of fiscal data.

Following the event, participants agreed that Uzbekistan will participate in open budget survey conducted by the International Budget Partnership, as well as in development of medium-term action plans.