Azerbaijan is successfully implementing the Digital Public Finance Information System, Finance Minister Sahil Babayev stated at the conference under the theme Digital Financial Ecosystem: A New Stage in Governance, held in Baku, Report informs.
Babayev highlighted that the ministry has taken a series of steps in the area of reporting.
"The key approach in this area is not the separate digitalization of individual services, but rather the creation of various public services, including public finance services, within a unified framework through a single electronic portal and ecosystem. In this regard, the Digital Public Finance Information System has already been established by a relevant decree of President Ilham Aliyev. Implementation of many components and subcomponents of the system has started this year. We have already achieved very tangible results in a number of areas," he said.
The minister stressed that the Digital Public Finance Information System enables data-driven decision-making, forecasting and analysis.
"The integration of various subsystems and public finance services within a unified framework, as well as the interconnection of data, creates broad opportunities for implementing public finance policy," Babayev added.