Baku, July 25 (AZERTAC). President of the Republic of Azerbaijan Ilham Aliyev has reviewed the newly-built office building of the Ministry of Finance.

Azerbaijan is strengthening its position among developed countries. Reforms are being deepened in all spheres in the country year after year. The growth of the country`s economic power is accompanied by the expansion of social and infrastructure projects.

Finance, tax and banking sectors have played a special role in the ensuring of Azerbaijan`s socio-economic achievements in the past years.

Despite ongoing economic and financial crisis in the world continuous socio-economic development is being ensured in Azerbaijan as a result of a comprehensive and well thought-out policy. Azerbaijan`s strategic currency reserves grow, the rate of our national currency is stable, the world`s leading rating agencies increase our country`s credit ratings. The law “On budget system” which was adopted several years ago, is being improved on a constant basis. The treasury system meeting international standards has been built in the republic. Thanks to a successful socio-economic and appropriate budget and tax policy, budget revenues have grown 16-fold in the last 12 years. As in all structures, successive measures have been taken to strengthen material and technical infrastructure of the Ministry of Finance, modernize all administrative offices under the Ministry and ensure their effective activities in recent years. New office buildings have been constructed for 35 district and city financial departments of the Ministry of Finance and the State Treasury Agency`s five treasury departments for Baku, buildings of 17 local financial agencies have been revamped and supplied with state-of-the-art technologies and equipment. Under instructions of the head of state, attention is paid to wide application of electronic services for ensuring modern and flexible management, increasing transparency and eliminating elements encouraging corruption in the activity of the Ministry of Finance. In general, the staff of the Ministry of Finance, who carries out its activity based on President Ilham Aliyev`s saying "a civil servant is the people`s servant”, spares no effort to fulfill the task of bringing its work to international standards and present day requirements.  

Finance Minister Samir Sharifov briefed President Ilham Aliyev about conditions provided in the new office building.

It was noted that the previous building of the finance ministry built in the 1950s was in poor condition and was not up to modern requirements. In accordance with the head of state`s instructions to reorganize work places to modern standards, the new building for the Finance Ministry was built in one of the most beautiful and historical places of the capital. The building was constructed in line with the city`s modern appearance as well as national and original architectural style. Every condition was created here for the ministry`s central administration, its two state agencies and three state services. Major landscaping and development work was done in the area around the new building.

A bust of national leader Heydar Aliyev was placed at the main entrance. The conference hall of the building is unique for its modernity. Information and communication technologies based on the latest scientific and technical novelties were widely applied here. The ministry`s museum, whose expositions are notable for their richness, shows the road Azerbaijan’s financial system has covered in stages. The museum showcases the country’s ancient banknotes, first actions to shape the modern financial sector, the development path passed by the country’s financial system during national leader Heydar Aliyev`s leadership, reforms implemented in recent years under President Ilham Aliyev, novelties applied in the budget, treasury, insurance and other fields, the finance ministry`s international relations.

The Head of State toured the conference, meeting and working rooms.

The fact that the finance ministry`s departments and subordinate organizations will be located in the new building together with the central administration will allow centralized and effective management and increasing employee accountability and efficiency.

The ministry`s library is distinct in the rich collection and state-of-the-art technologies and equipment.

The head of state watched a short video on the path of development passed by the finance ministry in recent years, complex reforms, and the new office building.

Then, President Ilham Aliyev was shown information systems of financial accounting management for the state-funded organizations and treasury. It was noted that the single automated financial accounting system for the state-funded organizations, treasury management information system ensuring centralized, electronic and operations management of state budget funds, all state expenditures, treasury accounts, as well as actual expenditures control were created at the ministry.

The head of state was informed about the hallmark control machine in which sophisticated technologies were used.

After getting acquainted with the building of the finance ministry, President Ilham Aliyev wished its staff every success.

In conclusion, a photograph was taken.