#Legal_news Local budget reports are subject to external aud | Legal Info
#Legal_news
Local budget reports are subject to external audit
The Law "On amendments and additions to some legislative acts of the Republic of Uzbekistan in connection with the improvement of the budgetary process" was adopted.
According to the additions made, now the projects of local budgets of the regions will be submitted to the Accounts Chamber for conclusion.
The Accounts Chamber also conducts an external audit of the report on the execution of local budgets.
The draft law "On Amendments and Additions to the Law on the State Budget" is submitted to the Legislative Chamber on the basis of the conclusion of the Accounting Chamber.
From now on, at least 30 percent of additional sources of budgets of districts and cities will be directed to financing activities that will be formed on the basis of public opinion. (previously it was 10 percent)
Budget loans and credits are provided to legal entities-residents at a rate of at least 50% of the base rate of the Central Bank.
The key rate of the Central Bank today is 14 percent, budget loans and loans are issued at a rate of at least 7 percent.
