The Cabinet of Ministers has expanded the functions of the Ministry of Finance of the Kyrgyz Republic, introducing amendments to Resolution No. 253, which regulates the ministry’s operations.
Now the Ministry of Finance will not only manage the budget, but also control internal audits, participate in anti-corruption checks and monitor the effectiveness of public sector spending.
The ministry has received the right to develop fiscal and budget policies, participate in the management of public debt and finances, and assess the feasibility of public procurement. This includes checking the staffing schedules of government agencies, calculating salaries for employees and analyzing public investments.
The Ministry of Finance now oversees the internal control system: it will check how ministries and departments implement internal audit and monitor financial discipline. If such systems are absent or formal, the question of management responsibility will be raised.
In addition, the ministry will engage in anti-corruption monitoring in terms of financial violations and checks. Its tasks include coordinating the fight against money laundering, as well as accounting for the circulation of precious metals and stones.
A separate area is the issue and storage of government securities, participation in international transactions, monitoring microfinance organizations and developing policies in the field of lending.
The changes are aimed at increasing the transparency and accountability of all parts of the financial system. According to officials, this will create conditions for effective budget spending and combating financial violations in government agencies.
