Review of the problems of the financial system development
Dedicated to the Day of Finance Authority Employees, on the initiative of the Department of Science and Innovation, the Faculty of Finance and Credit and the Scientific and Research Institute "Finance" of TSUFE, on December 6th of this year at the Tajik State University of Finance and Economics it was held a Republican Scientific-Practical Conference on the topic "Problems of the financial system development of the Republic of Tajikistan in the conditions of the transition to the industrial-innovative economy", in which representatives of the Ministry of Finance of the Republic of Tajikistan participated and spoke.
The conference was opened by the Rector of TSUFE, Hakimbek Abdualimzoda, who congratulated the participants on the Day of Finance Authority Employees and noted that on the initiative of the Founder of Peace and National Unity, Leader of the Nation, President of the Republic of Tajikistan Emomali Rahmon the system of public finance management in the country was shaped according to demand in the years of Independence. One of the main phenomena of this system is the issuance of National currency, implementation of monetary and credit policy, improvement of the taxation system, ensuring transparency and increasing the efficiency of state budget expenditures.
- For us, the team of teachers and students of the Tajik State University of Finance and Economics, it is a matter of pride that the founder of this university is the Ministry of Finance of the Republic of Tajikistan. The founder's support is felt all the time, the rector expressed his gratitude to the leadership of the Ministry.
Then Karimzoda Jamshed, the First Deputy Minister of Finance of the Republic of Tajikistan congratulated the participants on the Day of Finance Authority Employees and assessed the topic as critical and important for solving financial problems and, in general, the economy of the country.
The speaker noted that over the past years, financial and economic crises in the civilized world, as a result of the spread of measles, have affected the economy of all countries, including Tajikistan.
- The holding of such conferences helps to solve the problems of the financial system on a scientific basis, - said Karimzoda Jamshed.
Also, Nigina Abdurakhmonzoda, Director of the Agency for the Development of the Securities Market and Specialized Registration of the Ministry of Finance of the Republic of Tajikistan spoke at the conference on the topic "Development of the capital market in the Republic of Tajikistan" and gave information about the state of it. She noted that the rational conduct of the financial policy and its stability in all times is the main factor of the stability of the state. The development of the securities market, as well as the secondary market, in modern times depends on the solution of economic and financial issues, including the activation of capital market structures, the expansion of the securities market of public and private companies, and the direction of free monetary resources from investors to various sectors of the economy. The securities market and the stock exchange are considered one of the financial sectors of the country's economy and can help attract free funds and invest them in various sectors of the economy.
In continuation, Bobokhon Boboev, the Head of the Main state investment financing department of the State budget department of the Ministry of Finance of the Republic of Tajikistan spoke on the topic "Improving inter-budget relations as the basis of innovative economic development" and explained the main inter-budgetary principles as dividing and linking expenses to certain levels of the system. State budget of the Republic of Tajikistan is the distribution of regulated incomes between the levels of the state budget system according to temporary standards, the legal equality of the budget of the local bodies of the state power and special funds.
The speaker noted that during the development of the state budget, the Ministry of Finance of the Republic of Tajikistan summarizes the proposals of the local executive bodies of the state power, taking into account the proposals of the sectoral departments, and submits them to the interdepartmental budget commission under the ministry for discussion, and as a result, financial assistance is provided to local budgets in the form of subsidies, subventions and budget loans, which regulate the balance of local budgets. He noted that in 2022, 36 cities and districts will be included in subsidized regions.
In the end of the Conference, Bahrom Sharipov, Professor of the Banking department spoke on the topic "Evaluation of the effectiveness of the mechanism regulating the activity of the Industry of Tajikistan" and Davlatali Qurbonalizoda, the assistant of the Department of Finance spoke on the topic "Problems of the digital finance formation in the Republic of Tajikistan".
In conclusion, the speakers gave specific answers to many questions and there took place a discussion.
In the second part of the day, the conference continued its work in two sections - finance and credit and the general economic section, and 50 reports were heard.
At the end, scientific recommendations are presented to the relevant authorities.