Tashkent, Uzbekistan (UzDaily.com) -- The plenary session of the Senate discussed the Law "On amendments and additions to some legislative acts of the Republic of Uzbekistan in connection with the improvement of the budgetary process of the Republic of Uzbekistan."

As noted, this Law introduces amendments and additions to the Budget Code of the Republic of Uzbekistan, the laws of the Republic of Uzbekistan "On the Accounts Chamber" and "On state power in the localities".

A system of external audit and assessment of the budget of the Republic of Karakalpakstan, local budgets of regions and the city of Tashkent has been introduced. The law introduces a system of annual external audit by the Accounts Chamber of the Republic of Uzbekistan and assessment of annual reports on the formation and execution of the budget of the Republic of Karakalpakstan, local budgets of regions and the city of Tashkent.

The Budget Code also expands the powers of the Accounts Chamber of the Republic of Uzbekistan. It is envisaged that the Accounts Chamber submits to the Cabinet of Ministers of the Republic of Uzbekistan an opinion on the draft law on the State budget and fiscal strategy for the medium term, and to the Council of Ministers of the Republic of Karakalpakstan, khokimiyats of regions and the city of Tashkent - respectively on the draft budget of the Republic of Karakalpakstan, local budgets of regions and the city Tashkent.

The law also stipulates that off-budget funds of ministries and departments are included in the consolidated budget.

At the same time, the inadmissibility of the creation of funds formed at the expense of the consolidated budget of the Republic of Uzbekistan, but not included in it, is established.

The approval of the Law will contribute to ensuring the openness, completeness and compliance with international standards of the budget process and will have a positive impact on strengthening public control over the budget process.

The law was approved by the senators.