FEATURES OF LOCAL BUDGET REVENUE FORMATION: CHALLENGES, MECHANISMS AND REFORM PROSPECTS

Abstract

This article examines the key characteristics of local budget revenue formation in the context of Uzbekistan's ongoing fiscal decentralization. Drawing on theoretical frameworks and empirical evidence from transitional economies, the study analyzes the structural composition of local revenues, identifies systemic weaknesses in intergovernmental fiscal relations, and evaluates the effectiveness of existing revenue-sharing mechanisms. The article further proposes a set of policy recommendations aimed at enhancing the fiscal autonomy of local governments and ensuring the sustainability of subnational public finances.