BAKU, Azerbaijan, June 20. Policymakers in
Azerbaijan have launched reforms on enhancing the budgeting
course of with the help of the World Bank (WB), and the Swiss
State Secretariat for Economic Affairs (SECO), Trend experiences by way of the
“The goal of this program is to strengthen the effectivity,
strategic orientation and transparency of public expenditure in
Azerbaijan, with the goal of enhancing affect and sustainability of
public spending in addition to boosting personal sector improvement,”
the WB mentioned.
The Medium-Term Expenditure Framework (MTEF) program, below
which the reforms are initiated, is targeted on a number of pillars
addressing public monetary administration.
The first pillar defines macroeconomic targets to information coverage
coordination, price range planning and prioritization, which is able to increase
public funds sustainability, macroeconomic stability, and
present a extra strategic give attention to public spending.
“The second pillar goals to help the Ministry of Economy in
enhancing the strategic alignment of the federal government funding
program, together with using Public-Private Partnerships (PPPs),
to the wants of the nation. Specifically, it is going to search to advertise
greatest follow in public funding administration,” the WB mentioned.
The third pillar contains the help for the Ministry of
Finance in enhancing the strategic and efficient orientation of the
budgeting course of by specializing in capacity-building for the
implementation of present legal guidelines and laws on MTEF. This will
embody the gradual introduction of processes linking funding with
The fourth part of transparency and accountability will
enhance the standard and timeliness of fiscal info. It will
additionally help the Chamber of Accounts of Azerbaijan, which performs a
central function in guaranteeing accountability in using public
The fifth part of change administration will help the
adjustment course of all through this system. The change administration
technique will accompany the implementation of reforms, which is able to
require elevated coordination and cooperation between a number of
“This engagement has a robust demand-driven strategy. The
program is nation led and works in collaboration with
worldwide finance companies and donors that present recommendation,
technical help and financing for the reform packages or for
the federal government’s price range at giant,” the WB concluded.
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