The nature of budget system

Government budgeting has emerged in foreign countries as a means of making governments more accountable for their actions. Budget procedures are designed to hold governments accountable to the public and the executive branch to the legislature. Concerns about the federal budget deficit and growing national debt, as well as the unsustainable state of some municipal budgets, have forced governments to use the budget as a tool to hold them accountable for the long-term health of state finances. Citizens of the country are increasingly demanding from their governments reports on the financial situation of the country, the expenditure of taxes paid and the financing of other government programs. In such conditions, issues of budget preparation, public announcement and responsibility to taxpayers for its implementation served as the basis for budgetary reforms

• Government budgeting has emerged in foreign countries as a means of making governments more accountable for their actions. Budget procedures are designed to hold governments accountable to the public and the executive branch to the legislature. Concerns about the federal budget deficit and growing national debt, as well as the unsustainable state of some municipal budgets, have forced governments to use the budget as a tool to hold them accountable for the long-term health of state finances. Citizens of the country are increasingly demanding from their governments reports on the financial situation of the country, the expenditure of taxes paid and the financing of other government programs. In such conditions, issues of budget preparation, public announcement and responsibility to taxpayers for its implementation served as the basis for budgetary reforms

Principles of the budget system, composition of budgets of the budget system

• Principles of the budget system, composition of budgets of the budget system
• Article 6. Concept of budget system
• Budget system is a set of budgets of all levels, budgets of state trust funds and extra-budgetary funds of budget organizations, principles of building and organizing budgets of the budget system, relationships between them that arise during the budget process. Formation, preparation, review, adoption, approval and execution of budgets of the budget system for a certain financial year are carried out in the national currency of the Republic of Uzbekistan — soums.