Journalists learn about the treasury based budget execution

Tashkent, Uzbekistan (UzDaily.com) -- A workshop entitled "Treasury based system of the State budget execution", organized for the media representatives was held in the capital’s business center "Poytaht". It was attended by the representatives of news agencies, newspapers, TV and radio news programs, as well as web sites.

It is assumed that to discuss complicated issues like a treasury based system of the budget execution or other topic related to budgetary sphere, the experts in the field of finance and economics or practitioners from the budgetary organizations are usually involved. However, the event mentioned above was organized for the representatives of the so called 4th power, i.e. for the journalists who cover the events taking place in the economic and fiscal policy in the media. The specialists, who go into the financial world through their pens or TV and radio reports got together to discuss the specifics of the treasury based system of the State budget execution.

Treasury is an authorized financial body, which, together with its territorial divisions, is engaged in the state budget execution. It is the Treasury that deals with the storage and spending of the State budget, and its activity is based on the respect for the principle of a "unity of cash" that includes receiving, storing and paying budgetary resources from a single account.

With the establishment of the Treasury the principles of the state budget execution have been revised, taking into account changes in processes and distribution of responsibilities, as well as the creation of a transparent system for vertical control. In addition, the introduction of treasury based budget execution gave a push to the development of information and communication technologies in the country by boosting the installation of fiber optic cable in all regional and district centers of the republic.

The workshop was organized within the framework of UNDP ‘Budget System Reform in Uzbekistan’ project aimed at strengthening the country’s capacity in the area of budget reforms towards making the budgetary system more efficient, accountable and transparent.

"This is a regular workshop in a series of events that the Project holds for the media - says the Project Manager Fayzulla Salakhuddinov. Following the workshop on the budgetary process, the participants expressed their interest in continuing this initiative, noting that such events contribute to a better understanding of changes in the budget system. And this, in turn, helps journalists to be involved in budget reform, publicizing it in the media."

The workshop consisted of several sessions covering the concept, the role, functions and the structure of the Treasury of the Republic of Uzbekistan. The participants considered legal and regulatory framework, the specifics of the treasury based system of the State budget execution in terms of both revenue and expenditure sides. The questions and answers session caused lively interest of the journalists.

At the end of the workshop the participants were awarded certificates.