INTOSAI meeting on public debt kicks off in Azerbaijan
Baku, Azerbaijan, May 23
By Kheyraddin Nasirzade - Trend:
A meeting of the working group of the International Organization of Supreme Audit Institutions (INTOSAI) on public debt is taking place in Azerbaijan on May 23, Trend reports.
The meeting is organized with the support of Azerbaijan's Chamber of Accounts.
The meeting is aimed at presentation of international standards of public debt management, exchange of experience, and discussion of the issues of mutual interest related to studying problematic issues and developing further cooperation with INTOSAI.
The growth rates of incomes and expenses in the budget of Azerbaijan for 2018 are the highest in the last seven years, Chairman of the Azerbaijan Chamber of Accounts Vugar Gulmammadov said at the meeting.
He said that according to the information of the financial authorities, the indicator of public debt in relation to GDP is below 20 percent, which is a good indicator.
Gulmammadov noted that control over public debt is one of the most important tasks of the external state financial control authorities. It provides economic security and serves to prevent risks, he added.
He said that such meetings should be held to share experience and improve results, and praised INTOSAI’s activities. He added that the Chamber of Accounts, in turn, considers the regulation of public debt to be one of the main tasks of the chamber.
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