Minister of Finance Sahil Babayev has instructed on the preparation of the “Strategy on Public Debt Management” document for 2026-2030 in Azerbaijan.
“Elchi” reports this with reference to the ministry.
According to the information, at the next collegial meeting held in the institution today, the minister also gave relevant instructions on expanding the application of international experience in public debt management and improving a number of legal institutional frameworks in accordance with the activities of the State Debt and Financial Obligations Management Agency.
The meeting noted that as a result of the efficient use of treasury funds last year, 300.1 million manats were saved on public debt service expenditures, and at the same time, positive changes were ensured in the structure of the debt portfolio by replacing short-term bonds with long-term bonds within the framework of refinancing operations. The average repayment period for government bonds increased significantly to 3.3 years.
It was reported that, in accordance with its functional activity, the Agency carries out state borrowing, ensures debt accounting and reporting, and conducts analyses. Last year, new loan agreements with international financial institutions were approved in the equivalent of approximately 235 million US dollars. At the same time, cooperation with international rating agencies to assess the country’s sovereign credit rating was ensured in coordination with other relevant government agencies.
In addition, S. Babayev noted the importance of further improving the execution process of draft legal acts and applying electronic control mechanisms. Within this framework, it was considered appropriate to implement projects through the “Normative Legal Acts” information system, as well as the electronic document management system, to investigate delays and balance the execution burden. At the same time, the chairman of the collegium gave relevant instructions on the preparation of proposals related to the simplification of reconciliation procedures and the reflection of the requirement to submit financial and economic justifications in the legislation.