MODERN APPROACHES TO PUBLIC FINANCE REFORM: INSTITUTIONAL FRAMEWORKS, FISCAL STRATEGIES, AND INTERNATIONAL BEST PRACTICES

Public finance reform has emerged as one of the most consequential policy agendas of the twenty-first century, driven by converging pressures of fiscal unsustainability, democratic accountability deficits, and the transformative potential of digital technologies. This article provides a comprehensive, evidence-based examination of contemporary reform pathways across four interdependent domains: fiscal governance and institutional architecture, revenue modernisation and tax administration, expenditure management and performance budgeting, and technology-driven transparency mechanisms. Drawing on comparative data from OECD nations, emerging economies, and transitional states — including Uzbekistan and Kazakhstan — the analysis integrates theoretical frameworks (New Public Management, Post-NPM, Digital-Era Governance) with empirical evidence from recent IMF, World Bank, and OECD assessments. The study develops a sequenced reform framework across five phases, supported by four analytical tables and a synthesis of twenty-one primary academic and institutional sources. Findings indicate that no single reform model is universally optimal; rather, context-sensitive sequencing that prioritises institutional capacity before technological adoption produces the most durable fiscal outcomes. The article concludes with actionable policy recommendations calibrated to low-income and transitional economies seeking to align public finance systems with the imperatives of the 2030 Agenda for Sustainable Development.

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