BAKU, Azerbaijan, August 20. Uzbekistan and
Russia are expanding cooperation in public finance management and
treasury operations, with a focus on accounting, digitalization,
and the application of modern information technologies in public
financial systems.
This was reflected in the statement by the Ministry of Economy
and Finance of Uzbekistan.
The cooperation is being carried out under a 2017 Memorandum of
Technical Cooperation between Russia’s Federal Treasury and
Uzbekistan’s Ministry of Economy and Finance, a Cooperation Program
for 2024-2026, and a technical cooperation memorandum signed in
December 2024 between the Federal Treasury and Uzbekistan’s
Treasury Service Committee.
As part of the latest stage of cooperation, a Russian delegation
led by Alexander Georgievich Mikhailik, deputy head of the Federal
Treasury of Russia, is visiting Uzbekistan from August 18 to
21.
During the visit, officials are focusing on the centralization
of accounting in budget organizations, budget accounting and
reporting, digitalization of public financial management processes,
and the use of modern information technologies in treasury
operations.
The sides are also working on a new Trilateral Cooperation
Program for 2027-2029, which is expected to establish priorities
for the next stage of cooperation.
The ongoing engagement is aimed at strengthening practical
cooperation between the treasury authorities of Uzbekistan and
Russia and improving the efficiency of public financial management
through the adoption of advanced practices and digital
solutions.
The focus on centralized accounting and digital financial
management reflects broader efforts by Uzbekistan to modernize
government financial systems and improve the management, reporting,
and oversight of public funds.
The use of modern information technologies in treasury
operations could also help streamline financial processes, improve
data management and strengthen the efficiency of budget
execution.
The latest meetings are expected to contribute to the further
development of institutional cooperation between the two countries
and support the introduction of advanced international practices
into Uzbekistan’s public financial management system.
