THE NECESSITY AND SIGNIFICANCE OF THE STATE BUDGET EXECUTION IN THE REPUBLIC OF UZBEKISTAN: CURRENT STATE AND FUTURE PROSPECTS.

Abstract

This article explores the concept, necessity, and significance of state budget execution in the Republic of Uzbekistan, and analyzes its current performance, challenges, and future prospects. The study clarifies the theoretical foundations of budget execution, discusses the institutional and legal framework in Uzbekistan, and provides empirical evidence based on recent data (e.g., execution of social expenditures, capital investment, deficits, debt dynamics). Through budget tables and diagrams, the paper highlights trends and structural imbalances. The article also critically assesses constraints such as off-budget spending, weak transparency, and limited fiscal space, drawing on evaluations (e.g. PEFA, IMF, World Bank). Finally, it proposes policy recommendations for strengthening budget execution, improving the efficiency of public spending, enhancing fiscal discipline, and leveraging digitalization and public participation to enhance accountability. The prospective section forecasts execution under different scenarios and outlines strategic directions for sustainable fiscal management in Uzbekistan.