Azerbaijan, Baku, Dec. 25 / Trend N. Ismayilova /
The Treasury Department No 1 of the State Treasury Agency under the Ministry of Finance was opened in Azerbaijan on December 24 , the agency said.
The Treasury Department No 1 is the largest in the country. The services are provided to 100 budgetary organizations. Roughly 80-85 percent of the state budget falls to the share of budgetary organizations.
The new administrative buildings are being built for the treasury departments No 2, 5 and 10.
The new Treasury system is implemented by SAP. The process of automation of the Treasury is carried out within a few years.
Automation of the Treasury is held as a part of the program to improve the work of public sector organizations, and control over the state budget. There will be permanent access to relevant financial information.
Full automation of the Treasury will keep records and conduct treasury operations in real time. As a result, the mechanisms of budget spending will be strengthened. Execution of budgetary operations will be accelerated and quality increased. Given the importance of this project, the Finance Ministry fully renews the central server's state treasury, and creates a system for remote server outside of Baku.
Automation of the Treasury will help budgetary savings and eliminate evidence of concealment of funds from the budget.