On May 29th of this year, the International Budget Partnership organization released the "Open Budget Index - 2023" report, Azernews reports.

Azerbaijan's ranking in this report soared 10 points higher than in 2021, reaching 57 points. This marks Azerbaijan's entry into the league of highly transparent countries regarding budget information. In fact, Azerbaijan achieved its highest-ever score for this indicator in its history of independence, with an impressive 67 points out of a possible 100.

Azerbaijan's rating stands significantly above the global average of 45 points, marking it as one of the countries with the most remarkable advancements in the overall rating. Countries scoring 61 points or higher are considered to have adequate budget transparency.

In the "Open Budget Index-2023" report, Azerbaijan climbed 21 spots among the 125 participating countries, securing the 23rd position and joining the cohort of nations with comprehensive budget disclosure.

The Open Budget Survey evaluates the budget process across three key areas:

Accessibility of budget information to the public (Open Budget Index).

Public engagement in the budget process (Public Participation).

Oversight by legislative and audit bodies (Budget Oversight).

Out of 145 survey questions (indicators), 109 focus on the accessibility of budget information, with the final score termed the "Open Budget Index". Notably, 107 questions pertain to budget documents prepared by the Ministry of Finance.

Additionally, 18 questions gauge public participation in the budget process, while another 18 assess the roles of legislative and audit bodies.

In the "Open Budget Survey-2023" report, the performance of the Accounting Chamber in budget oversight, covered by 7 questions, was highly commended, achieving an "adequate" score of 100 out of 100.

Of special significance in the "Open Budget Index-2023" report is the recognition of Azerbaijan's main budget documents since 2021, acknowledged by the International Budget Partnership. Moreover, strides have been made in enhancing both the quality and awareness of these documents.

The methodology of the Open Budget Survey is based on several crucial international standards in public financial management, including:

The World Bank's "Public Expenditure and Financial Accountability" (PEFA),

The International Monetary Fund's "Fiscal Transparency Code",

The Organization for Economic Cooperation and Development's "Best Practices for Fiscal Transparency",

The "Global Initiative for Fiscal Transparency's Principles of Public Participation in Fiscal Policies",

And the "Lima Declaration" standard of INTOSAI — the International Organization of Supreme Audit Institutions.