Baku: Azerbaijan’s Economic Council has convened its latest meeting to deliberate on the financing strategies for the reconstruction and restoration of Karabakh and East Zangezur, as well as the implementation of the Great Return Program, the Cabinet of Ministers informed Trend.
According to Trend News Agency, the meeting, chaired by Prime Minister Ali Asadov, also focused on various financial forecasts. These included projects for the state and consolidated budgets for 2026, as well as indicators for the consolidated budget over the next three years. The council examined global economic development trends, assumptions used in budget forecasts, the current economic climate, and updated macroeconomic forecasts for 2025-2029. It also discussed the primary goals and directions of budget policy for 2026-2029, areas where the medium-term expenditure framework and results-based budgeting mechanism are applicable, target indicators for budget rule parameters, and issues related to macroeconomic and financial stability.
Reports were presented by the Minister of Economy Mikayil Jabbarov, the Minister of Finance Sahil Babayev, the Chairman of the Central Bank Taleh Kazimov, and the Minister of Labor and Social Protection of the Population Anar Aliyev. Following these presentations, council members engaged in discussions on the agenda.
At the conclusion of the meeting, considering the insights and proposals from council members, instructions were issued to relevant bodies. These instructions pertain to the submission of all documents and information included in the 2026 budget envelope to the Cabinet of Ministers, which will then submit them to the President of Azerbaijan.