Vol. 1 No. 7 (2026), Articles
Vol. 1 No. 7 (2026)

INTEGRATING FISCAL RISKS OF STATE ENTERPRISES AND PUBLIC PARTNERSHIPS INTO PERFORMANCE BUDGETING FRAMEWORKS

Articles
Published 2026-10-12
Akmal Allakuliyev
PhD, Acting Professor, Rector of Kimyo International University in Tashkent
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Keywords

fiscal risks, state-owned enterprises, public-private partnerships, performance budgeting, contingent liabilities, quasi-fiscal activities, public financial management.

How to Cite

Akmal Allakuliyev. (2026). INTEGRATING FISCAL RISKS OF STATE ENTERPRISES AND PUBLIC PARTNERSHIPS INTO PERFORMANCE BUDGETING FRAMEWORKS. Zamonaviy Ilmiy Yondashuvlar Va Texnologik Taraqqiyotning Ustuvor yo‘nalishlari, 1(7), 161-166. https://doi.org/10.5281/zenodo.23324763
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Abstract

This paper examines why performance budgeting misstates the cost of public services when the fiscal risks of state-owned enterprises (SOEs) and public-private partnerships (PPPs) are left outside it, and how these risks can be integrated. Drawing on International Monetary Fund (IMF) and OECD standards, cross-country evidence on contingent liabilities and official documents on Uzbekistan, it shows that the omitted exposures are large, overlap with budget programs and bias program cost and performance information. The paper proposes a three-step framework of perimeter mapping, risk-adjusted program costing and risk-linked performance indicators, and formulates a testable hypothesis on deviations between budgeted and realized fiscal costs.

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References

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