Baku: On November 12, Deputy Minister of Finance of the Republic of Azerbaijan Himalay Mamishov met with the delegation led by Serdar Yilmaz, Global Practice Manager for Public Finance and Investment Management at the World Bank’s Governance Global Practice, who is on a visit to Azerbaijan, Ministry of Finance told APA.
According to Azeri-Press News Agency, this meeting followed the previous one held at the Ministry in October and focused on the medium-term expenditure framework and results-based budgeting mechanisms, digital platforms used in public financial management, as well as the project supported by the World Bank for assessing digital solutions and information systems.
H. Mamishov provided detailed information on the innovations implemented in Azerbaijan’s public financial management and the digital platforms introduced in this area. He emphasized that the document ‘Azerbaijan 2030: National Priorities for Socio-Economic Development’ supports digital transformation in all sectors, and these initiatives contribute to the development of sustainable and transparent financial management. The Deputy Minister noted that the project will make an important contribution to the formation of the architecture of the Digital State Financial Information System, as well as to strengthening results-based budget management and aligning it with international standards.
S. Yilmaz highly appreciated the work carried out by the Government of Azerbaijan in the direction of digital transformation and modernization of public financial systems. He stated that the planned project would create new opportunities for sustainable and transparent financial management in the country.
During the meeting, the parties exchanged views on six key modules to be implemented under the project – identification of information systems and digital technologies in public financial management, customization of the ICT management system, infrastructure needs, cybersecurity level, interoperability, and assessment of readiness for artificial intelligence.
In conclusion, the parties emphasized the importance of joint efforts and coordination for the successful implementation of the project and agreed on practical steps for the next phases.