Gov’t approves strategy to modernize public finance and debt management
The Cabinet of Ministers has approved a strategy to improve public financial management. The resolution was published on Lex.uz.

Photo: Spot
The strategy aims to reform the country’s budgetary system to enhance its overall efficiency. Key objectives include increasing the effectiveness of public spending and investment, ensuring efficient budget execution, advancing digitalization in the financial sector, and improving fiscal discipline.
The document outlines 16 action points. One of them focuses on effective control over public debt, ensuring it remains at a level that supports macroeconomic stability and can be serviced in a timely manner.
A practice of preparing a three-year public debt management strategy — with annual updates — will be introduced. This document will outline specific measures for the development of the government securities market.
The public debt portfolio will be structured based on the principle of "optimal cost and risk." Measures will also be taken to stimulate the secondary market for government bonds, diversify the investor base, and increase the issuance of short-term domestic securities.
Starting in June, auction calendars for government bonds will be published regularly. From September, authorities are also tasked with initiating the publication of periodic reports on public debt in the Public Sector Debt Statistics (PSDS) database maintained by the World Bank and the International Monetary Fund.
Additionally, the government plans to expand the volume of information on macro-fiscal risk assessments included in the budget message and fiscal strategy. Another objective for the coming year is to develop procedures for setting limits on public-private partnership (PPP) projects.
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