Republic of Uzbekistan

The IMF conducted a fiscal transparency evaluation (FTE) for Uzbekistan in June 2018. The FTE found that Uzbekistan met at least the basic standard of practice in 16 of the 36 principles defined in the IMF Fiscal Transparency Code. This report provides a summary of progress made since that evaluation was conducted and is based on practices in place at the time of a Fiscal Affairs Department visit during March 25 to April 5, 2019. 2. Since June, Uzbekistan has taken steps to improve fiscal transparency. Key advances made in the 2019 budget message include presentation of more detailed information on how public funds are allocated across major spending areas and a statement of medium-term policy intentions. Medium-term macroeconomic and fiscal projections were also included for the first time, along with a discussion of fiscal risks, to provide a picture of how public finances may evolve over time. In addition, timely publication of the Citizen’s Budget ensures the public has an accessible summary of fiscal prospects and policy, which will help facilitate greater public engagement in the budget process. Improvements to the 2019 budget documentation, if sustained, will help underpin a more strategic and medium-term orientated approach to fiscal policy making.