BAKU, Azerbaijan, September 7. Uzbekistan and
the International Monetary Fund discussed measures to strengthen
fiscal stability and improve public financial management as the
government seeks to enhance budget planning, fiscal discipline and
the efficient use of public resources.


This was reflected in the statement by the Ministry of Economy
and Finance of Uzbekistan, following a meeting between Jamshid
Kuchkarov, Uzbekistan’s deputy prime minister and minister of
economy and finance, and Brin Battersby, a senior economist at the
IMF’s Fiscal Affairs Department.


The meeting was also attended by Amanda Sayeg and Natalia
Salazar, senior economists in the IMF’s Public Financial Management
Division, as well as Akhadbek Khaydarov, deputy minister of economy
and finance, and other officials.


The discussions focused on opportunities to improve the
effectiveness of fiscal management, further develop public
financial management practices and introduce advanced approaches to
fiscal governance.


Particular attention was given to fiscal discipline, which the
participants identified as an important element of sound public
financial management.


The sides discussed approaches to maintaining an appropriate
balance between budget revenues and expenditures, determining
sustainable levels and limits for the budget deficit, and ensuring
the efficient allocation and use of budgetary resources.







“Strengthening fiscal discipline and improving the quality of
budget planning are essential to ensuring sustainable public
finances and more efficient use of budget resources,” the ministry
said.


The participants also discussed ways to improve budget processes
through more accurate revenue forecasting and expenditure planning.
The sides emphasized the importance of using reliable economic and
fiscal forecasts when determining budget parameters and ensuring
greater consistency in financial planning.


The meeting comes as Uzbekistan continues to pursue reforms
aimed at strengthening its fiscal framework and improving the
management of public finances.


At the end of the meeting, the Uzbek and IMF officials expressed
readiness to continue cooperation on fiscal management and public
financial management reforms, exchange international best practices
and further develop mutually beneficial cooperation.


The sides are expected to maintain dialogue on improving fiscal
governance and strengthening the effectiveness of Uzbekistan’s
budget management system.