FINANCIAL INDEPENDENCE OF LOCAL BUDGETS IS A FACTOR IN THE SOCIO-ECONOMIC DEVELOPMENT OF THE REGION

Аннотация

This article describes the reforms in Uzbekistan to ensure financial independence of local budgets, based on the Action Strategy for 2017-2021. There are opinions and scientific approaches to increase the impact of financial independence of local budgets on the socio-economic development of the region. The purpose of the study is to develop proposals and recommendations to increase the impact of financial independence of local budgets on the socio-economic development of the region. Scientific novelty of the research: Requires local budgets to have the necessary revenue base. Therefore, it is scientifically based to strengthen the revenue base of local budgets, the distribution of resources between regions, ensure the efficient use of public resources and increase the efficiency of public services in economically, naturally, demographically diverse regions. Increasing the financial independence of local budgets will increase the responsibility of local governments for their decisions. In turn, the efficiency of the use of financial resources has been proven to increase. Increasing the independence of local budgets has proved its superiority in countries with different levels of economic development, state structure, geographical location. However, there is a need for institutional mechanisms to ensure that different levels of government are subordinate to higher levels.