BAKU, Azerbaijan, August 25. Uzbekistan and the
International Monetary Fund discussed measures to strengthen fiscal
governance and public financial management, including improving
fiscal risk assessment, budget planning and the management of
public resources.


This was reflected in the statement by the Ministry of Economy
and Finance of Uzbekistan, following a meeting on August 24 between
Amanda Sayeg, senior economist in the Public Financial Management
Division of the IMF’s Fiscal Affairs Department, and Jamshid
Kuchkarov, Uzbekistan’s Deputy Prime Minister and Minister of
Economy and Finance.


The meeting focused on further developing cooperation between
Uzbekistan and the IMF and reviewing priority areas of the
country’s ongoing fiscal reforms.


Particular attention was given to Uzbekistan’s fiscal
development objectives and measures aimed at strengthening the
public financial management system.


The sides also discussed efforts to identify, assess and monitor
fiscal risks and better account for their potential impact on the
sustainability of public finances.


“Strengthening fiscal risk management and improving the quality
of budget planning are important elements of sustainable public
finance management,” the Uzbek Ministry of Economy and Finance
said, summarizing the discussions.







The meeting also covered the formulation of budget revenues and
expenditures, as well as efforts to improve budget planning and
forecasting mechanisms.


The sides emphasized the importance of more effective management
of budgetary resources and greater consistency between financial
planning and fiscal policy priorities.


Improving forecasting and strengthening mechanisms for
monitoring fiscal risks are expected to help Uzbekistan better
assess potential pressures on public finances and improve the
efficiency of government financial management.


The discussions form part of Uzbekistan’s broader efforts to
modernize its fiscal governance framework and strengthen the
institutions responsible for managing public finances.


At the conclusion of the meeting, the sides reaffirmed their
readiness to deepen cooperation and continue exchanging views on
fiscal policy, public financial management and other issues
discussed during the meeting.