U.S. Department of State: Azerbaijan made significant progress on achieving standards of fiscal transparency

Baku. 1 August. REPORT.AZ/ U.S. Department of State released the 2016 Fiscal Transparency Report.

Report was told in the US Embassy to Azerbaijan, the report assesses Azerbaijan’s budget processes and information about the budget as well as processes for awarding government contracts and licenses for natural resource extraction.

The 2016 report concludes that Azerbaijan has made significant progress toward achieving the standards of fiscal transparency, and the U.S. government applauds Azerbaijan for its hard work in this area.

The report says, fiscal transparency fosters greater government accountability by providing a window into government budgets for citizens, helping them hold their leadership accountable, and facilitating better-informed public discussions: "Fiscal transparency is a critical element of effective public financial management, helps in building market confidence, and underpins economic sustainability."