Government debt needs to be optimized
Tashkent, Uzbekistan (UzDaily.com) -- On 26 May, at a meeting of the Milli Tiklanish Democratic Party of Uzbekistan faction in the Legislative Chamber of the Oliy Majlis, the Cabinet of Ministers reviewed reports “On the implementation of the State budget of the Republic of Uzbekistan and the budgets of state trust funds in 2019” and “On the implementation of the State budget of the Republic of Uzbekistan and the budgets of state trust funds in the first quarter of 2020”.
Members of the faction drew attention to the issues of the implementation of the State budget and the budgets of state trust funds in the reporting period, based on the party’s priority tasks for the development of the national economy and social sphere.
First of all, according to the deputies, further liberalization of the economy in 2019, its diversification and structural transformation, as well as modernization by introducing the most modern, advanced technologies into production, served to increase the export potential and competitiveness of the national economy, which ensured its steady growth and macroeconomic stability.
It was noted that ensuring a balanced state budget at all levels, reducing territories that depend on a higher budget, improving inter-budget relations to strengthen local budget revenues created an opportunity to maintain a social orientation of expenditures and implement measures outlined in budget parameters.
Deputies critically examined the issue of financial errors that were identified as a result of state financial control in budget organizations, as well as the misappropriation of funds and material assets, expenses that grow from year to year.
It was noted that since 2007, the Treasury system has been created in the Ministry of Finance system, working on the basis of an electronic program, which has the primary and current control function of budget funds and cameral control. But the control functions of this system do not work. What measures are taken to eliminate such violations and other issues raised by deputies. Including financial allocations in the field of physical education and training, as the party’s election program includes the education of a physically and spiritually healthy young generation, the creation of favorable conditions for regular mass participation in sports for children and youth.
It was noted that the amount of funds allocated from the state budget for culture and sports at the end of 2019 made up 2.41 trillion soums (or 3.8% of the funds allocated for social expenses), which is 79.7% more than in 2018.
120.6 billion soums were allocated from the state budget for expenses for organizing sports and public events on physical education, as well as for participating in international competitions in 2019, which is about 1.49 times more than in 2018.
Deputies also noted that due to the growth of state external debt and the reduction of domestic debt, the mechanisms of alternative economies are not fully used. By 2019, the country’s external debt reached US$9.9 billion, and internal - US$4.8 billion. At the beginning of 2020, they rose to US$15.6 and US$2.0 billion, respectively.
Deputies noted that the optimization of public debt can be achieved by increasing the share of domestic debt, that is, as a result of the development of the government securities market. They noted that this method will play an important role in maintaining the state’s foreign policy independence and developing the national economy, noting that the government should pay attention to this issue.
At the meeting of the faction, the draft law "On Culture" was also considered.
Today, outdated management methods in the field of culture and art are still preserved, there is no comprehensive approach to solving problems, there are drawbacks in organizing the activities of cultural institutions and the provision of services to the population, the material and technical base of some local cultural and art institutions does not meet the requirements of the time, and there is no accounting for the needs for training of qualified personnel, and there is no deeply developed system of training and advanced training of personnel. Therefore, this issue requires a more effective implementation of a unified state policy in the field of culture, the deputies noted.
Based on this, the bill should become the basis for the systematic regulation of basic legal relations in the field of national and universal culture of citizens, peoples and ethnic groups of the country.
The bill consists of 8 chapters and 55 articles, aimed at creating conditions for the accessibility of the population to the services provided by representatives and cultural institutions, increasing and improving the quality of the types of services provided.
Other issues were also considered at the meeting, relevant decisions of the faction were adopted.