The Importance of Digital Technologies in Improving The Efficiency of Public Funds Management in The Treasury System
Abstract
The efficient management of public funds is a core pillar of modern public administration. As digital technologies advance, their integration into treasury systems has become essential for enhancing financial transparency, accountability, and operational efficiency. Countries like South Korea, Singapore, the USA, and France have pioneered digital treasury systems utilizing AI, blockchain, big data analytics, and integrated platforms. These systems have proven to reduce costs, prevent fraud, and streamline financial operations. Despite global advancements, Uzbekistan’s treasury system faces challenges such as underdeveloped infrastructure, limited expert capacity, and insufficient legal regulation for implementing digital tools. This underscores the need to explore international practices and evaluate local applicability. This study aims to analyze global experiences in digitalizing treasury systems and assess their adaptability in Uzbekistan’s context to improve the management of public financial resources. The research highlights significant improvements in transparency, cost-efficiency, and decision-making in countries with mature digital treasury infrastructures. A SWOT analysis reveals Uzbekistan’s strengths (political will, legal reforms), weaknesses (infrastructure, expertise), opportunities (global collaboration, lower tech costs), and threats (cybersecurity, brain drain). Based on this, a roadmap for digital transformation in Uzbekistan’s treasury was proposed. The study offers a structured comparison of international digital treasury systems and provides tailored recommendations for Uzbekistan, integrating global practices with local institutional realities. These findings support policy reforms and investment strategies aimed at digitizing public finance in Uzbekistan and contribute to scholarly discussions on digital governance and financial management systems.
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