FEATURES BUDGETING IN THE RBB SYSTEM

Abstract

This article examines how today many developed and developing countries are developing budgetary practices for the medium term. Of course, we do not believe that medium-term budgeting determines the economic development of these countries. Nevertheless, budget revenues for the medium term can be mentioned as a factor in achieving the stated goals and objectives of the government. In the experience of EU member states, results-based budgeting demonstrates the feasibility of socio-economic policies.

The aim of the study is to develop the theory and methodology of budgeting in the management of centralized finances, which occurs quite apart from budgeting in commercial structures, as well as improving budgeting in enterprises and in groups of companies that are not sufficiently associated with the best practices of performance-based budgeting. The demand for budgeting in the financial management of enterprises, groups of companies, municipalities, constituent entities and the state, combined with the isolation of the development of theory and methodology of budgeting in centralized and decentralized finance, as well as the feasibility of further development of the possibility of wider use of budgeting as a universal technology, predetermined the choice of the topic, the goal and tasks of the dissertation research.

Starting from 2020, the consolidated State budget reflects public expenditures carried out at the expense of state trust funds and funds from external borrowings, the coverage and level of transparency of the budget has been strengthened. [1]

 Established accounting of the general fiscal balance in accordance with international standards. [2] (Resolution of the President of the Republic of Uzbekistan, 2019)

Scientific novelty of the research:

1. Studying the scientific understanding of the budgeting experience accumulated by enterprises, as well as subjects and municipalities in the implementation of performance-based budgeting, and the creation of a budgeting concept based on the idea of ​​the universality of budgeting tools in the field of centralized and decentralized finance, which will make it possible to more effectively manage finances using synergistic effect.
2. To develop methodological approaches to assessing the effectiveness of budgetary expenditures at the level of territorial entities, which have not developed performance indicators, have not identified reserves for reducing the cost of budgetary services.