Uzbek leader stresses importance of strengthening financial control in the country


President Shavkat Mirziyoyev reviewed the presentation of proposals aimed at strengthening financial control over the expenditure of budgetary funds, according to the press service of the President of Uzbekistan.

Uzbek leader stresses importance of strengthening financial control in the country
At a video conference held on January 16 of this year, focusing on priority economic tasks, the President of Uzbekistan specifically addressed the issue of budget expenditure efficiency and issued instructions to strengthen financial control.

As is known, this function is performed by the Accounts Chamber of the Republic of Uzbekistan. In the current system, only budget and targeted fund expenditures are covered by external audits, accounting for 86 percent of total expenses.

Therefore, it is proposed that the Accounts Chamber conduct an external audit of the consolidated budget execution, which will include expenditures from extrabudgetary funds and external debt.

The Accounts Chamber plans to introduce the practice of strategic audits, aimed at assessing potential risks in achieving national goals and objectives in state programs, as well as IT audits to evaluate the effectiveness of software in government organizations.

In Uzbekistan, there are about 30,000 budget organizations and state enterprises, whose activities require substantial time and resources to study on-site. Therefore, the Accounts Chamber has launched a "Remote Control Centre." The necessity to improve 36 criteria and risk analysis indicators based on advanced foreign experience was noted.

In recent years, significant funds have been allocated for regional development. However, local councils mainly focus on regional or district budgets when discussing the budget. This means that 65-70 percent of the funds allocated to each region from all sources remain beyond their control.

In this regard, it was emphasized that the Accounts Chamber should discuss the budget process not only in the chambers of the Oliy Majlis but also in local councils.

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