Tashkent, Uzbekistan (UzDaily.com) -- On 29 March 2019, the branch of the Russian Economic University named after G.V. Plekhanov in Tashkent hosted a seminar organized by the Ministry of Finance of the Republic of Uzbekistan with the participation of experts from the International Monetary Fund.

This seminar was organized during the visit of the IMF mission from March 25 to April 5 of this year to assist in the ongoing reforms and to carry out further work on the recommendations of assessing transparency in the fiscal sphere.

Representatives of ministries and departments - budget funds managers, as well as state trust funds were invited to participate in the seminar. During the seminar, experts from the International Monetary Fund made presentations on the ongoing reforms in the public financial management system, improving government finance statistics and ensuring budget transparency.

During the presentation, the IMF expert, Mr. Marco Сangiano (IMF Fiscal Affairs Department), focused on the main issues of public finance management, such as the objectives of the current fiscal policy, the role of the budget as a central element of fiscal policy, and the importance of ensuring fiscal transparency.

The second part of the seminar was devoted to issues of government finance statistics. The experts of the IMF Statistics Department made a presentation on the role of government finance statistics in improving the quality of fiscal information. According to the recommendations of the International Monetary Fund for assessing fiscal transparency, it is necessary to ensure that the general government sector is fully covered in reports on government finance statistics by including the activities of all extra budgetary funds of ministries and departments, state trust funds, and state-owned enterprises included in management.

According to the results of the seminar, the IMF experts answered the questions of the seminar participants, and also stressed the importance of ongoing reforms in the public financial management system.