Cooperation between Azerbaijan and the World Bank on public finance management and performance-based budgeting mechanisms has been discussed, APA-Economics reports, citing the Ministry of Finance
First Deputy Finance Minister Anar Karimov met today with a delegation led by Fabienne Mroczka, the World Bank’s Lead Public Sector Specialist.
During the meeting, the implementation, final outcomes and future cooperation prospects of the “Strengthening Medium-Term Expenditure Framework Capacity in Azerbaijan” program, jointly supported by the World Bank and the Swiss State Secretariat for Economic Affairs (SECO), were discussed.
Anar Karimov noted that the long-term and effective cooperation between Azerbaijan and the World Bank in the field of public finance management plays an important role in strengthening fiscal discipline, strategic budget planning and the implementation of result-oriented management mechanisms. It was emphasized that significant progress has been achieved within the framework of the program in strengthening the country’s medium-term fiscal framework, improving strategic budgeting practices and accelerating the transition to a program-based budgeting approach.
The meeting also focused on work carried out within the framework of cooperation with the World Bank in the areas of digitalization and digital transformation of public finance management. In this regard, key measures aimed at analyzing and modernizing the digital ecosystem of public finance management, as well as implementing modern information systems, were highlighted.
For her part, Fabienne Mroczka stated that cooperation between the World Bank and Azerbaijan is at a high level and noted that the reforms being implemented play an important role in modernizing the public finance management system, expanding performance-based budgeting mechanisms and strengthening institutional capacity.
The meeting also reviewed the implementation of program and performance-based budgeting mechanisms in the healthcare, youth and sports, culture and media sectors, the organization of further training sessions for representatives of relevant state institutions, and the transition process of these sectors to program-based budgeting.
In addition, the importance of further institutionalizing program and performance-based budgeting processes, strengthening monitoring and evaluation systems, managing fiscal risks, advancing digital transformation and expanding analytical forecasting capabilities was emphasized.
