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Finance 20/06/2018 Uzbekistan and IMF hold seminar on budget transparency and assessment of fiscal risks
Uzbekistan and IMF hold seminar on budget transparency and assessment of fiscal risks
Tashkent, Uzbekistan (UzDaily.com) -- On 19 June 2018, the Ministry of Finance of the Republic of Uzbekistan jointly with the members of the mission of the International Monetary Fund held a seminar "Budget Transparency and Assessment of Fiscal Risks".

The seminar was attended by deputies of the Legislative Chamber of Oliy Majlis, senators, employees of the Accounts Chamber, the National Project Management Agency, the Central Bank, the Ministry of Economy, the State Committee for Investments, the State Tax Committee, the State Customs Committee, the State Statistics Committee, under the President of the Republic of Uzbekistan, the Institute for Forecasting and Macroeconomic Research, the Bank Fin Academy of Sciences and representatives of the United Nations Development Program.

The event took place in the "Workshop" format with an extensive presentation of IMF experts on such topics as "Fiscal reporting: compilation of GFS statistics and coverage of government units and funds", "Fiscal transparency: Medium-term budget forecast and Program-specific budgeting" and "Fiscal risks: analysis and reporting "and interactive participation of national experts on the topics under discussion.

Employees of the Main Department of the State Budget noted that the Ministry of Finance jointly with UNDP prepared the Budget for 2018 for citizens in a simple and accessible form of a budget document, using infographics in an accessible manner to facilitate understanding of the budget for a wide audience. This document will be submitted by the Ministry of Finance in the coming days.

Experts of the International Monetary Fund said that Uzbekistan will become a locomotive among the countries of Central Asia in the field of open budget in the assessment of fiscal transparency in accordance with the Code on fiscal transparency and related reforms, which in turn will be a powerful signal for the international community on the country’s desire to strengthen its position in the transparency of fiscal information.

As a result of the seminar, experts and participants came to a mutual opinion on the development of the Medium-term Action Plan on Fiscal Transparency and the country’s participation in the Open Budget Survey of the International Budget Partnership.

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