Senate hosts a meeting with World Bank and European Union representatives

Tashkent, Uzbekistan (UzDaily.com) -- The meeting with representatives of the joint mission of the World Bank and the European Union was held at the Senate of the Oliy Majlis of the Republic of Uzbekistan.

According to the Chairman of the Committee on Budget and Economic Reforms of the Senate of the Oliy Majlis of the Republic of Uzbekistan Muhamet Jumagaldiyev, the fundamental economic reforms carried out in the country necessitate the organization of the budget process based on international criteria and standards.

In accordance with International Public Sector Accounting Standards (IPSAS), budgetary process of the state and local levels of the country should be presented to the attention of relevant structures and the public openly, in an accessible form. The resolution of the President “On measures of ensuring openness of budget data and active participation of citizens in budget process” of August 22, 2018, became an important step in this direction and contributes to ensuring openness and transparency of the budget process in the country.

This year, a joint mission of the World Bank and the European Union will assess the financial and budgetary discipline in Uzbekistan, the effectiveness of allocation budgetary resources and financial services in accordance with the requirements and standards of Public Expenditure and Financial Accountability (PEFA) and will present its recommendations.

Mission representatives conducted training workshops with participation of employees of various government agencies and organizations. Activities on analyzing the financial system began last week.

At the meeting, the sides discussed the procedure of conducting budgetary audits.