Azerbaijan, World Bank discuss cooperation on public financial management
Baku, May 21, AZERTAC
On May 21, Anar Karimov, Azerbaijan’s First Deputy Minister of Finance met with a delegation of the World Bank led by Fabienne Mroczka, Senior Public Sector Specialist.
The sides discussed the implementation, final outcomes and prospects for future cooperation for the Capacity Building in the Field of Medium Term Expenditure program, jointly supported by the World Bank and Swiss State Secretariat for Economic Affairs (SECO).
Anar Karimov stated that the long-standing and effective cooperation between Azerbaijan and the World Bank in the field of public financial management is of significant importance for strengthening fiscal discipline, strategic budget planning, and the application of results-based management mechanisms. It was noted that within the framework of the implemented program, important results have been achieved in strengthening the medium-term fiscal framework in the country, improving strategic budgeting practices, and accelerating the transition to program-based budgeting.
The meeting also focused on ongoing cooperation with the World Bank in digitalization and digital transformation of public financial management. In this context, key measures aimed at analyzing and modernizing the digital ecosystem of public financial management and implementing modern information systems were highlighted.
Fabienne Mroczka, for her part, noted the high level of cooperation between the World Bank and Azerbaijan, emphasizing that the ongoing reforms play an important role in modernizing the public financial management system, expanding results-based budgeting mechanisms, and strengthening institutional capacity.
The meeting also reviewed the application of program and results-based budgeting mechanisms in the healthcare, youth and sports, culture, and media sectors, as well as the organization of upcoming training sessions for relevant government officials and the transition process of these sectors to program-based budgeting. In addition, the importance of further institutionalizing program and results-based budgeting processes, strengthening monitoring and evaluation systems, improving fiscal risk management, and expanding digital transformation and analytical forecasting capabilities was emphasized.
Other news in this section
