Azerbaijan and the International Monetary Fund (IMF) have held discussions on fiscal policy and institutional development, Report informs, citing Azerbaijan's Finance Ministry.
The discussion took place during the meeting between the Azerbaijani First Deputy Minister Anar Karimov and the IMF's mission chief for Azerbaijan, Anna Bordon, and her delegation.
The meeting addressed trends in Azerbaijan's economy, fiscal policy, medium-term outlook, the main directions of the upcoming Article IV consultations, and the IMF's future support priorities for capacity development.
Karimov provided detailed information on recent fiscal reforms, noting that the introduction of a medium-term fiscal framework is crucial for strengthening macroeconomic stability, maintaining sustainable public debt levels, safeguarding the assets of the State Oil Fund (SOFAZ), and improving budget efficiency.
He emphasized that expanding financing opportunities through non-oil revenues, gradually reducing transfers from SOFAZ, and reinforcing fiscal sustainability are among the government's top priorities.
The deputy minister also highlighted reforms in public finance management, including the expansion of results-based budgeting, the phased broadening of the medium-term expenditure framework, and steps toward digitalization, improved monitoring of state enterprises, and greater budget transparency.
For her part, Bordon praised the existing cooperation between the Azerbaijani government and the IMF, stressing the importance of reforms in public finance management and macroeconomic stability. She confirmed the IMF's readiness to continue supporting Azerbaijan in enhancing economic policy, fiscal governance, and institutional capacity.
The meeting also covered other areas of mutual interest, including improvements in tax and customs administration, the green development agenda, and the reconstruction of Azerbaijan's liberated territories.