Azernews.Az

By Kamila Aliyeva

Uzbekistan intends to liquidate the majority of off-budget funds in the near future.

This is provided for by the Draft Concept for Improving the System of Public Finance presented on the eve by the country's Finance Ministry.

It is proposed to close the Irrigated Lands Improvement Fund, the Republican Road Fund, the non-budgetary Fund for the Development of the Material and Technical Base of Educational and Medical Institutions, the Clean Drinking Water Foundation, as well as other inefficient funds. Instead, the country should move on to implementing program-targeted methods for financing infrastructure and investment projects.

In addition, according to the document, careful study of off-budget funds of ministries and departments should be carried out, formed from deductions from state duties, levies and non-tax payments, administrative and financial sanctions for their expediency and ensuring the unity of the state budget.

To date, off-budget funds of 36 ministries and departments, the amount of which is about 1.5 percent of GDP, as well as social and infrastructure projects financed by international financial institutions in the amount of 2 percent of GDP are not reflected in the consolidated budget.

Therefore, experts propose to change the current situation and include incomes and expenditures of extra-budgetary funds of ministries and departments, as well as social and infrastructure projects financed from the funds of international financial institutions in the consolidated budget of the republic.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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