Baku:The results-based budgeting model developed in Azerbaijan is anticipated to gain international recognition, similar to the acclaimed ASAN Service, as shared by Ilham Karimov, Head of the Results-Based Budget Policy Department of the Ministry of Finance, during the “Digital Financial Ecosystem A New Stage in Governance” conference in Baku.
According to Azeri-Press news agency, Karimov highlighted that the development of this budgeting mechanism involved a comprehensive study of international experiences and methodologies from various countries, while also integrating Azerbaijan’s national characteristics.
Karimov detailed that after a year-long study, Azerbaijan launched a pilot phase to test the budgeting model. Throughout this period, the model’s advantages and shortcomings became evident, leading to the development of a mechanism uniquely adapted to Azerbaijan. This model is distinguished by certain features that differ from existing international practices, marking it as a unique Azerbaijani innovation.
Karimov expressed confidence that Azerbaijan’s results-based budgeting model could evolve into an internationally recognized brand. He further emphasized that digitalization will be crucial in implementing this model, with electronic systems being essential for accelerating and enhancing budget processes and results-based budget management.
The application of digital solutions, he noted, will allow for more efficient organization of budget processes and the introduction of new approaches to public financial management.