Baku: 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.
According to Azeri-Press News Agency, the meeting focused on the implementation, final outcomes, and future cooperation prospects of the 'Strengthening Medium-Term Expenditure Framework Capacity in Azerbaijan' program. This program is jointly supported by the World Bank and the Swiss State Secretariat for Economic Affairs (SECO). Anar Karimov highlighted the importance of long-term and effective cooperation, which has been instrumental in enhancing fiscal discipline, strategic budget planning, and implementing result-oriented management mechanisms. Significant progress has been made in strengthening Azerbaijan's medium-term fiscal framework and improving strategic budgeting practices.
The meeting also touched on digitalization and digital transformation within public finance management. Key measures were discussed, focusing on analyzing and modernizing the digital ecosystem of public finance management and implementing modern information systems. Fabienne Mroczka noted that the partnership between the World Bank and Azerbaijan is robust and that ongoing reforms are crucial in modernizing public finance management, expanding performance-based budgeting, and strengthening institutional capacity.
Additionally, the discussion reviewed the implementation of program and performance-based budgeting mechanisms across sectors such as healthcare, youth and sports, culture, and media. The importance of organizing further training sessions for state institutions and transitioning these sectors to program-based budgeting was emphasized. There was also a focus on institutionalizing program and performance-based budgeting processes, strengthening monitoring and evaluation systems, managing fiscal risks, advancing digital transformation, and expanding analytical forecasting capabilities.