Azerbaijan discusses issues of ensuring budget transparency

By Trend

Another meeting of the Working Group on Effective Governance and Macroeconomic Indicators of the Commission on Business Environment and International Ratings was held in Azerbaijan, Trend reports with reference to the Central Bank of Azerbaijan (CBA).

The online meeting was held in connection with COVID-19 pandemic.

The representatives of the CBA, the ministry of economy, the ministry of finance, the State Oil Fund of Azerbaijan, the State Statistics Committee, the Small and Medium Business Development Agency of the Republic of Azerbaijan, as well as Equita company, the Eurasia Extractive Industries Knowledge Hub, the Center for Support for Economic Initiatives, etc. participated in the online meeting.

The work conducted during 10 months within the action plan of the working group was discussed at the meeting. The views on the measures to be taken by the end of the year to implement the action plan were exchanged.

The issues of ensuring budget transparency, increasing financial stability, keeping inflation rate within the target range, optimizing the burden of state regulation and improving its quality were the main topics of discussion.

Moreover, the initial draft action plan of the working group for 2022 was discussed at the meeting and a decision was made to finalize it taking into account the received proposals.

A decision was made following the meeting to submit proposals to improve Azerbaijan's position in international ratings for the commission’s consideration.