Tashkent, Uzbekistan (UzDaily.com) -- The President of Uzbekistan Shavkat Mirziyoyev signed a law “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with Improving the Budget Process”.

The law introduced amendments and additions to 4 legislative acts.

In particular, according to the addition to the Code of Administrative Responsibility, liability is established for violation of the procedure for ensuring the openness of the budget process. This procedure comes into force on 1 April 2021.

Also, the Budget Code has been brought into line with the Tax Code and other current legislative acts. 

In particular, a provision has been introduced into the Budget Code concerning equalizing interbudgetary transfers.

According to this, the equalizing interbudgetary transfers are provided on a non-refundable basis to cover the costs of local budgets, budgets of state trust funds in the part that exceeds the forecasts of revenues of these budgets.

In addition, a procedure has been established to ensure the openness of the budget process.

The administrators of budgetary funds, state trust funds, the Fund for Reconstruction and Development at the end of each quarter, by the 25th day of the first month of the next quarter, post information on their official websites on:

- the distribution of budgetary funds in the context of subordinate budgetary organizations;

- periodic financial statements;

- recipients of subsidies and loans from state trust funds;

- implementation of projects carried out at the expense of capital investments.

The law comes into force on the day of its official publication.