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Ministry of Finance of the Republic of Uzbekistan


Address: 5, Mustakillik square, Tashkent, Republic of Uzbekistan, 100008
Phones: +998 (71) 239-1252, +998 (71) 244-5643
www.mf.uz
iyuldashevmf.uz

Regulations of the Ministry of Finance of the Republic of Uzbekistan have been approved by the Resolutions of the Cabinet of Ministers "On Approval of the Regulations of the Ministry of Finance of the Republic of Uzbekistan" №533 dated November 23, 1992.

The organizational structure of the Ministry has been approved by the Resolutions of the Cabinet of Ministers "On organizational structure of the Ministry of Finance of the Republic of Uzbekistan" № 59 dated February 11, 1992

Main functions and rights

Ministry of Finance of the Republic of Uzbekistan is a body of state administration, which ensures carrying out consistent and uniform taxation and budget policy.

The structure of the Ministry of Finance consists of: the Ministry of Finance of the Republic of Karakalpakstan, financial departments in regions, cities and districts.

Main tasks of the Ministry of Finance are as follows:

  • preparation of the Draft State budget and forecast of consolidated budget, maintenance of their implementation, preparation of the report about implementation the State budget;
  • development of proposals for improving of tax policy and taxation system stipulating optimization of fiscal and stimulate role of taxes, providing favorable conditions for economic development and raising level population’s welfare;
  • evaluation of Government foreign loan projects;
  • implementation within its competence government financial auditing, including target and effective use of government financial resources.

According to assigned tasks the Ministry of Finance within its competence given by legislation performs the following main functions:

  • in the framework of budget system improvement prepares and submits proposals to the Cabinet of Ministers of the Republic of Uzbekistan for improving budget system and inter budget relations, develops the drafts of normative and legal acts on improvement of budget system of inter budget relations, organizes scientific researches in the sphere of finance and taxation and budget policy etc;
  • in the framework of taxation and budget policy prepares and submits proposals to the Cabinet of Ministers of the Republic of Uzbekistan about major directions of the budget policy for a planning year and midterm perspective, prepares drafts of the state budget and forecasts for a consolidated budget, prepares suggestions for improving of the structure of government expenditures, develops and introduces methods of budget planning of expenditures in government organizations and order of their financing, manages revenues and expenditures of the government budget;
  • in the framework of development and execution of the consolidated budget together with the Central Bank monitors realization of consolidated budget according to the international standards, together with the relevant ministries, agencies and departments develops and approves annual quarterly forecasts of incomes to the state target funds and directions of their use, monitors realization of approved forecasts of incomes and expenditures of non budget funds by regions taking into account the types of the incomes and directions of their use;
  • in the framework of state debt management together with the Central Bank carries out monitoring, counting and servicing of internal debt of the Republic of Uzbekistan, submits suggestions to the Cabinet of Ministers of the Republic of Uzbekistan about improvement of the structure of government debt, acts as a government securities issuer, develops and approves legislative acts for securities issuance, manages external debt, develops top parameters of government external loans, prepares and submits guarantees of the Government of the Republic of Uzbekistan, organizes fulfillment of loan and other contract obligations to external creditors, carries out records and control over use and servicing of foreign credits attracted or guaranteed by the Republic of Uzbekistan;
  • in the framework of financial markets and institutions’ regulation participates within its competence in development of measures for provision of stable functioned financial system and manages government regulation of financial institutions and financial markets of the country, manages government share in nominal capital of enterprises, conducts regulation and supervision on insurance activities
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Tue 23 / 12 / 2014