Tashkent, Uzbekistan (UzDaily.com) -- On 3 August 2021, an agreement on cooperation between the Ministry of Finance of the Russian Federation and the Ministry of Finance of the Republic of Uzbekistan in 2021-2023 was signed.

The agreement was signed as part of the fulfillment of the tasks specified in the Memorandum of Understanding on cooperation between the Ministry of Finance of the Republic of Uzbekistan and the Ministry of Finance of the Russian Federation dated April 3, 2017.

Within the framework of the agreement, a new Program of bilateral cooperation is approved, under which the Research Financial Institute under the Ministry of Finance of the Russian Federation (FRI) will provide scientific and methodological support and technical assistance in the field of public finance management for a period up to 15 March 2024.

The program provides for scientific research in the following areas:

- improvement of the system of taxation and tax administration, 

- formation of fiscal policy using systems of macroeconomic forecasts and fiscal rules, 

- implementation of proactive budgeting practices, 

- implementation of the principles of budgeting program,

- improvement of budgetary mechanisms of state procurement activities,  

- development of proposals for the development of the social sphere of the Republic of Uzbekistan aimed at improving the quality of life and the level of well-being of the population (social protection, education, healthcare) and others. 

Implementation of the program will promote the development of comprehensive cooperation between the Ministries of Finance of the two countries, the implementation of assigned tasks on deep reforming the economy, the effective introduction of the latest mechanisms of public finance management in Uzbekistan, taking into account the most successful foreign and Russian practices.

The present agreement was signed after the expiration of the agreement signed in September 2018. In 2018-2020 between the Ministries of Finance implemented a program of bilateral cooperation in accordance with the developed action plan. A special place among the areas of interaction was occupied by the areas related to the tax reform of Uzbekistan, the development of fiscal rules, the development of public-private partnerships in the Republic of Uzbekistan and others.