BAKU, Azerbaijan, October 7. Azerbaijani Finance Minister Samir Sharifov met with the World Bank (WB) mission and the SECO delegation within the Medium Term Expenditure Framework (MTEF) capacity building project implemented jointly with the WB and the Swiss State Secretariat for Economic Affairs (SECO), Trend reports via the Ministry of Finance.
The parties discussed issues related to the implementation of the reforms on the implementation of this project, strengthening of the medium-term macro-fiscal framework, continuation of support towards improving the methodology for preparing the budget calendar, baseline projections, budget classification and key performance indicators and results in the pilot sectors where the MTEF is applied.
Sharifov stressed that over the past period, joint projects have been successfully implemented in various areas.
Noting the importance of using the MTEF in ensuring the targeting, efficiency and effectiveness of budget expenditures, he informed about the ongoing reforms in the field of public finance management in Azerbaijan, stressed the important role of these measures in increasing the transparency and efficiency of state regulation in the economy.
The head of the WB mission Ian Hawkesworth informed about the work done to date under this project and the next steps, which will be undertaken, and expressed readiness to continue supporting Azerbaijan in the direction of continuing reforms.
The head of the SECO delegation Alberto Hernandez stressed that the strategy for the socio-economic development of Azerbaijan for 2022-2026 will make a significant contribution to the ongoing reforms on the MTEF.