Cooperation between Azerbaijan and the World Bank on public financial management and results-based budgeting mechanisms has been discussed
elchi reports, citing the Ministry of Finance, that today the First Deputy Minister of Finance Anar Karimov met with a delegation led by Ms. Fabienne Mroczka, Senior Public Sector Specialist at the World Bank.
During the meeting, the implementation of the “Strengthening the Medium-Term Expenditure Framework Capacity in Azerbaijan” program, jointly supported by the World Bank and the Swiss State Secretariat for Economic Affairs (SECO), the final results of the program, and future cooperation prospects were discussed.
Anar Karimov stated that the long-term and effective cooperation formed between Azerbaijan and the World Bank in the field of public financial management is of great importance in terms of strengthening fiscal discipline, strategic budget planning, and the application of results-oriented management mechanisms. It was noted that within the framework of the implemented program, significant results have been achieved in strengthening the medium-term fiscal framework in the country, improving strategic budget practices, and accelerating the transition to a program-based budgeting approach.
At the meeting, the work carried out within the framework of cooperation with the World Bank in the field of digitalization and digital transformation in public financial management was also highlighted. In this context, the main measures taken towards the analysis and modernization of the digital ecosystem for public financial management and the implementation of modern information systems were noted.
For her part, Ms. Fabienne Mroczka noted the high level of cooperation between the World Bank and Azerbaijan, stating that the implemented reforms play an important role in modernizing the public financial management system, expanding results-based budgeting mechanisms, and strengthening institutional capacity.
During the meeting, the application of program and results-based budgeting mechanisms in the health, youth and sports, culture, and media sectors, the organization of further training for representatives of relevant government agencies, and the process of transition to program-based budgeting in those areas were also reviewed. In addition, the importance of further institutionalizing program and results-based budgeting processes, strengthening monitoring and evaluation systems, managing fiscal risks, and expanding digital transformation and analytical forecasting capabilities was emphasized.
