The Ministry of Finance held a regular meeting of the Board dedicated to the implementation of the State budget for 2019 and the quality realization of the tasks facing the employees of the financial system.

The event was held in the format of a video selector that engulfed the central office and regional structures. In total, the meeting, chaired by the Deputy Prime Minister/Minister of Finance Jamshid Kuchkarov, was attended by 1062 heads of sphere authorities.

Positive outcomes achieved by the Ministry and its departments were noted during the meeting and the existing problems in the system were critically analyzed.

In particular, according to the results of 9 months of this year, the approved forecast indicator of the budget revenues was successfully achieved with an excess of more than 5.9 trillion soums. However, it was noted that in the third quarter similar indicators were not realized in Bukhara, Kashkadarya and Fergana regions. 

Cases of misuse and irrational use of budget funds in the amount of 91.3 billion soums due to violation of budget discipline have been identified. The necessity of organizing systematic work in this regard in Jizzakh, Andijan and Tashkent regions was emphasized.

Based on the tasks set forward in the Presidential Decree “On the forecast of the main macroeconomic indicators and parameters of the State budget for 2019 and budget guidelines for 2020–2021”, signed on December 26, 2018 as well as changes in the fiscal policy for 2020, the followings were identified at the board meeting:

- measures to ensure the quality execution of the State budget, including revenues and expenses of local budgets in 2019;

- amendments and addenda to the fiscal policy for 2020, sectorial reforms for the next fiscal year, as well as increase in the independence of local authorities, budget organizations and recipients of budget funds;

- measures to switch to medium-term budgeting, development of indicators of expediency and cost-effectiveness;

- other tasks aimed at further improving the performance of the financial system and increasing the revenues of the State budget in order to maintain high and sustainable economic growth rates for the remainder of 2019, including by finding additional resources and strengthening targeted spending. 

Priorities for 2020 were also identified.