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.
