President of Uzbekistan Approves New Rules for Registration of Budget Contracts and Projects

Tashkent, Uzbekistan (UzDaily.com) — President of Uzbekistan Shavkat Mirziyoyev signed a law introducing amendments and additions to certain legislative acts.

Under the new regulations, contracts with suppliers of goods financed from the State Budget, the budgets of state target funds, and off-budget funds of budgetary organizations take effect only after being registered with the treasury authorities.

The portfolio of projects included in the country’s social and production infrastructure development program for the upcoming year must be submitted annually by the Cabinet of Ministers to the Legislative Chamber by July 1.

It is reviewed within the parliamentary factions and committees of the chamber for 10 days, after which proposals and recommendations are sent back to the Cabinet of Ministers.

The Ministry of Economy and Finance develops an annual preliminary forecast of the main macroeconomic indicators for the medium-term period, based on at least two scenarios, by April 15 each year.

The quarterly report on the execution of the State Budget reflects the results of income and expenditure implementation in accordance with the budget classification.

The new rules aim to enhance the transparency and efficiency of the budgetary process.