Legislative Chamber of Oliy Majlis of Uzbekistan passed the law on 28 December 2013 and Senate approved it on 12 December 2013.
The law comes into force on 1 January 2014. The budget code will be in force as experiment in 2014-2015.
During two years, the Government of Uzbekistan will monitor and analyze for execution of the code and at necessity propose changes to improve the Code.
The budget code systematizes all budget process (forming, approving and executing the State Budget and controlling of its execution) in the unified and coherent legislative document.
It will also ensure use of common regulatory principles for the State budget and off-budget funds and defines powers of all the participants in the budget process and the mechanisms of their interaction, as well as improves inter-budgetary relations, etc.
The code determines several additional directions and spheres, sources and mechanisms related to the State Budget, including order of attracting grants and technical assisting, monitoring and control of their use, attracting loans and conducting public procurement, and other issues.
