Budget Code: one year of probation has passed

A year ago, in December 2013, the Law "On approval of the Budget Code of the Republic of Uzbekistan" was adopted. The Budget Code sets up general principles of budgetary legislation, legal basis for functioning the budget system and the procedures of forming, reviewing, accepting, approving, and executing the state budget of the Republic of Uzbekistan.

How is the Budget Code being applied in Uzbekistan during its first year of probation? It is known that the Law of the Republic of Uzbekistan "On approval of the Budget Code of the Republic of Uzbekistan" determines that during 2014-2015 a constant and comprehensive monitoring and analysis of the efficiency and effectiveness of the Budget Code will be held and if necessary, proposals will be made to further improve its norms. In order to discuss the results of testing the Budget Code and to make recommendations based on the results of its application, a Round table devoted this issue was held at the Tashkent Financial Institute.

The discussion of the results of the Budget Code probation brought about 120 representatives of stakeholders, including including the Deputies of Oliy Majlis, the specialists of the Ministry of Finance and its regional offices, as well as other key ministries and agencies, the academic community, UNDP, the staff and trainees of the Training Center of the Ministry of Finance, the Banking and Finance Academy, Academy of Public Administration, Tashkent Financial Institute and other economic universities.

Recommendations and expert opinions obtained in the course of the Round Table will be presented to the Interagency Working Group on comprehensive monitoring and analysis of practical operation and effectiveness of the Budget Code of the Republic of Uzbekistan, the preparation of proposals aimed at further improving its norms and regulations for further consideration.

The event was organized by the joint project of UNDP and the Ministry of Finance "Budget System Reform in Uzbekistan" in cooperation with the Tashkent Financial Institute and the Training Center of the Ministry of Finance.