NEWS AND EVENTS
December 24, 2011
Draft Budget Code of Uzbekistan discussed
Over 35 representatives of ministries and departments of Uzbekistan, international organizations, several experts gather at Poytaht Business Center on 22 December 2011 to discuss draft Budget Code of Uzbekistan. The sides developed recommendations and proposals on improving the document.
Budget code is legislative act, which determines basics of budget system, its structure and principles, legal relations, foundations of budget processes and inter-budget relations, etc. Budget code allows to consolidate all legislative and normative acts in management of state finances into single document.
This is the second session of the inter-departmental group, which includes representatives of Cabinet of Ministers, Account Chamber, Ministry of Finance, Treasury, Ministry of Justice, Ministry of Economy, Central Bank and State Tax Committee.
During the first session, members of the group discussed results of inventory of budget legislation and prepared on the base of this Concept of the draft Budget Code.
It is worth to mention that the group was formed in line with the decision of the Complex on macroeconomic development, structural reforms in economy and complex development on development of territories under the Cabinet of Ministers.
The draft code, as main legislative act in budget sphere, includes principles, norms, and regulations of two laws “On budget system” and “On treasury implementation of the State Budget”, eliminates contradictions and old norms.
The draft Budget Code is developed in assistance of the UN project “Budget System Reform in Uzbekistan”.
The exchange of opinion at the sessions of working group will allow to develop recommendations and proposals on improving draft Budget Code. (Source: UzDaily.com)