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The effective public finance management

On February 19, 2016 at the initiative of the Science and Innovation Department and Financial Management Department republican scientific-theoretical conference on theme «The Effective Management of Public Finances in Conditions of a Small Open Economy of the Republic of Tajikistan» was held in the Finance and Economics Institute.
Rector of FEIT Ashurboy Solekhzoda made an opening speech and noted that the aim of this conference is to study the theoretical and practical issues of process of investment and crediting, as well as the development of the recommendations to improve the existing public financial management practice of the Republic of Tajikistan.
It should be noted that today in Finance and Economics Institute of Tajikistan implemented the second phase of the European Union project «LOT: 1 Support to Selected Areas of Public Financial Management Reform Europe Aid / 134384 / DH / SER / TJ», aimed at supporting the reform of public finance management system. This conference is one of the results of the implementation of this project - concluded his speech A. Solekhzoda.
The conference was attended by the representatives of public organizations and institutions, teachers of industry institutions, scientists and experts. The reports were heard at the conference: Deputy Chairman of the National Bank of Tajikistan Sirojiddin Ikromov on theme «The banking system of the Republic of Tajikistan in the conditions of financial crisis»; Director of the State Unitary Enterprise "The Center for support of inter-budgetary financial transactions" Rustam Boboev on theme «Implementation of Information System Management of Government Finances»; Deputy of the Majlisi Namoyandagon Majlisi Oli of the Republic of Tajikistan, Professor of  the Economic Analysis Department of FEIT Rustam Kudratov on theme «The Organization of State Budget of the Republic of Tajikistan and the Stages of its Formation»; Head of  the Banking Service Department of the Institute of Entrepreneurship and Service Behzod Juraev on theme «The Factors Affecting the Rate of National Currency (theoretical aspects)».
Deputy Chairman of the National Bank of the Republic of Tajikistan S. Ikromov elaborated on the problems of the banking system in the conditions of financial crisis, including monetary policy, explained the reasons for the suspension of the activities of currency exchange offices and some small credit institutions in the country. He also noted the lack of an effective strategy to attract long-term reserves, low level of financial intermediation, the reasons for the high level of interest margin, insufficient involvement of specialists to the retraining and re-education, the imperfection of the asset management system, a low level of compliance with the rules of the return of loans. The speaker gave some recommendations to eliminate these shortcomings.
The speakers noted that an important indicator and the result of the market economy is the level of people's welfare and efficiency of economic entities, which are based on the stability of the financial system and monetary relations. The lack of financial reserves at the state and the enterprises level indicates the growing of economic crisis. To overcome the crisis it is necessary to implement a set of measures aimed at improving the financial condition of the state. In this regard, the finance considered the main lever of the national economy coordination.
Then, the work of the conference was continued in the following sections: finance, credit and banking, administration and management. The following topics were discussed and studied in the sections: The Role of Public Finance in the Financial System of the Republic of Tajikistan, Financial Policy and its Implementation in the RT, the Stability of the Tax System as a Factor in the Development of the National Economy, the Ways of Improving the Financing of the State Budget, the State Regulation of Monetary Policy in the Republic, the Ways of Effective Management of State Debts and etc.
On the results of the conference the participants decided to submit to the relevant public institutions the recommendations and suggestions.

Mashkhura Abdulloeva