Tashkent, Uzbekistan (UzDaily.com) -- On 4 December 2020, a virtual round table was held to discuss priority reforms in public investment management.

The purpose of organizing this round table is to attract technical assistance from International Financial Institutions and other organizations in the implementation of the recommendations of the report of the International Monetary Fund - Public Investment Management Assessment (PIMA).

This round table brought together representatives of major international financial institutions, including specialists from the World Bank, ADB, IMF, UNDP, FAR, IDB, EU Delegation, US Treasury, EBRD, Embassies of Switzerland and Japan in the Republic of Uzbekistan. 

Deputy Minister of Finance Akhadbek Khaidarov briefly introduced the roundtable participants to the process achieved to the present moment in public finance management:

To ensure transparency and openness of information about the state budget and citizens’ participation in the budget process, the following measures were taken. In particular, since 2018, the Citizens’ Budget has been published on a regular basis, as well as the Openbudget.uz web portal with detailed information on the state budget was launched in January 2019;

Moreover, for the first time, the state budget for 2020 was approved in the form of a law in accordance with international practice, and budget expenditures were approved and assigned by ministries and departments, and not by industries, as was the case before. From now on, the state budget is approved by the chambers of the Oliy Majlis, and local budgets - by the corresponding local parliaments.

The budget balance in the State Budget for 2020 includes previously unrecorded expenditures financed by external loans and excludes expenditures on repayment of the public debt.

In addition, Akhadbek Khaidarov briefly spoke about the work done with donors in the implementation of the PFM strategy for 2020-2024, in particular:

- to strengthen the budgetary process - IMF, World Bank, ADB, EU, US Treasury, Ministry of Finance of the Russian Federation and others;

- to improve reporting and accounting - IMF, World Bank, UNICEF, ADB, US Department of State, UNDP, US Treasury and others;

- on external debt management reforms - IMF, World Bank, US Treasury, ADB and others;

- on public procurement management reforms - World Bank, EBRD, FAR, US Treasury, ADB and others.

After a brief review, Akhadbek Khaidarov gave the floor to the expert of the Department of the International Monetary Fund on budgetary issues, Ms. Amanda Sayeg. In turn, Ms Amanda presented a brief information on the main findings and recommendations of the Public Investment Management Assessment (PIMA) report. 

After the information provided, Akhadbek Khaidarov thanked the IMF for the PIMA report prepared in October and asked experts from IFIs and other organizations to tell in what areas they can assist the Government in implementing the recommendations of the IMF report - PIMA.

During the meeting, experts from IFIs and other organizations presented comments and opinions on assisting the Government in implementing the recommendations of the IMF report.

The roundtable ended with a discussion of possible technical support for IFIs and other organizations.