ACCOUNTS COMMITTEE
FOR CONTROL OVER EXECUTION OF THE REPUBLICAN BUDGET

News - Press releases

16.12.2017

The delegation of the Accounts Committee headed by the Chairman Nurmukhambet Abdibekov took part in the 11th United Nations Conference on Trade and Development (UNCTAD), Geneva (Switzerland)

Representatives of public authorities from more than 100 countries around the world, as well as an international and non-governmental organizations attended in the conference.

A constructive exchange of views and experience on the implementation of the strategy of public debt management in the context of the world economy globalization and constant world instability took place.

Greater attention was paid to the systemic risks of excessive state borrowing, approaches to improve the system of efficiency monitoring and evaluation of public debt management.

Moreover, specific measures taken by international and regional organizations to support governments in their efforts to improve the processes for accounting of public debt and operational risks management were discussed.

Representatives of the International Monetary Fund and the World Bank informed the conference participants about new borrowing instruments, including the mechanism of bond loans tied to GDP.

Within the framework of the conference, the Chairman of the Accounts Committee Nurmukhambet Abdibekov met with representatives of UNCTAD. During the meeting, the "DMFAS" software system for analysis and accounting of debt that used in many countries of the world had been demonstrated. The possibilities of using this system in the Republic of Kazakhstan were discussed.

In addition, Nurmukhambet Abdibekov met with representatives of the Accounts Chamber of the Russian Federation. Parties exchanged their views on the main topic of the conference,emphasized the importance of public audit conducting in order to identify problem aspects in the management system of public and external debt.

Nurmukhambet Abdibekov noted that due to the transition to public audit, the Accounts Committee has been tasked with a systematic research about the impact of public borrowing on economic processes in the country, development of specific measures to ensure the effective use of budgetary resources.
 
Reference:
 
The United Nations Conference on Trade and Development (UNCTAD), established in accordance with the UN General Assembly resolution on December 30, 1964 and it is one of the universal and global forums to review and make recommendations on development issues and related issues of trade, finance, debt, investment, transfer technologies and etc. The headquarters of the Organization is located in Geneva.
The members of UNCTAD are 194 countries. The observers are 114 intergovernmental and 211 non-governmental organizations.
The supreme body of UNCTAD is the ministerial conference, which
convene
s every four years.
 
Press Service of the Accounts Committee

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