DUSHANBE, May 18, Asia-Plus  -- Tajikistan’s lower house of parliament endorsed a revised edition of the public finance law on May 18.

Finance Minister Safarali Najmiddinov noted that the public finance law adopted in late 2002 had been revised for the purpose of strengthening the country’s financial system and bringing it into compliance with international standards.

According to him, the new public finance law would allow Tajikistan to adopt the budget for three years.

MP Safarali Gulov, for his part, noted the public finance law in new edition would allow parliament to inspect the process of use of the budget’s stabilizing fund.

Public finance is a field of economics concerned with paying for collective or governmental activities, and with the administration and design of those activities.  The field is often divided into questions of what the government or collective organizations should do or are doing, and questions of how to pay for those activities.  The purview of public finance is considered to be threefold: governmental effects on (1) efficient allocation of resources, (2) distribution of income, and (3) macroeconomic stabilization.