Uzbekistan introduces 'Risk Management' committees to ensure budget accountability

Beginning January 1, 2025, "Risk Management" Committees will be established in governments, ministries, departments, and large organizations across Uzbekistan. This initiative, outlined in the presidential decree "On Additional Measures to Strengthen Financial Control Over the Use of Budget Funds," aims to enhance oversight and mitigate financial risks.

The committees will be created on a collegial basis and will be led by the first heads of the respective organizations. Their primary responsibility will be to ensure transparent and efficient use of budget funds.

Additionally, starting in 2025, information regarding funds allocated to regions from the state budget and state trust funds will be submitted to the relevant Councils of People's Deputies. This move will strengthen the oversight role of local Councils, enabling them to monitor and control how public funds are distributed and utilized at the regional level.

To ensure accountability, the results of control measures conducted by the Accounts Chamber will be reported quarterly and discussed at government meetings.

"Risk Management" Committees will also be established in the Council of Ministers of the Republic of Karakalpakstan, regional and Tashkent city governments, as well as in large organizations where the state holds a 50 percent or greater share in the authorized capital.