212 risks guarding Uzbekistan's public finances: Ministry of Economy and Finance conducts inventory of its own "weak spots"

212 risks under the control of Uzbekistan's public finances: Ministry of Economy and Finance conducted an inventory of its own "weak spots"

The Ministry of Economy and Finance of Uzbekistan conducted an inventory of risks associated with its own activities. According to the press service of the department, 40 structural divisions identified and assessed 212 risks, which were subsequently entered into a unified registry.

The work was carried out in compliance with the Cabinet of Ministers' resolution dated April 29, 2025, "On measures for the effective organization of the risk management system in the field of public finance."

Based on the results of the assessment, the ministry found no cause for panic — no high risks were identified. At the same time, the department's work cannot be called completely risk-free.

Out of the 212 risks:

156, or 73.6%, were classified as low risk;

56, or 26.4%, were classified as medium risk; no high-level risks were identified.

Meanwhile, the average risk level was 2.65, with a minimum score of 1.25 and a maximum of 5.98.

Operational risks accounted for the largest share — 67, or about a third of the total number.

These are followed by: strategic — 44; administrative — 42; financial — 35; corruption-related — 24.

In other words, potential problems for the ministry are not only related to finances. A significant portion of the risks lies in organizational processes, management, and the daily operations of the department itself.

By origin, the risks are also mostly internal. 194 risks were recognized as internal, 16 as external, and another 2 risks relate to both internal and external factors simultaneously.

Having conducted this unique "risk census," the Ministry of Economy and Finance has outlined response measures: a plan of 58 actions aimed at reducing, preventing, and eliminating "weak spots" has been approved.