BAKU, Azerbaijan, October 22. Azerbaijan plans to bring classification codes used in procurement, accounting, acceptance and handover procedures, and budget planning together under a unified system, Nurlan Soltanov, head of the Modern Technologies and Innovations Department at the Finance Ministry's Administrative Office, said, Trend's correspondent reports from the event.
He made the remarks at a conference on the digital transformation of public finance held in Baku on Thursday.
He said separate codes are currently used for procurement, classification and accounting at different stages of public finance management. These codes are expected to be integrated into a unified mechanism under the Digital Public Finance Information System.
“Our main goal is to integrate all these codes into the Digital Public Finance Information System. The code used at the beginning of a procurement process should also be applied in accounting, acceptance and handover certificates, treasury operations and the preparation of the following year’s budget,” Soltanov said.
The department head noted that discussions on the initiative were underway with the State Agency for Antimonopoly and Consumer Market Control and other relevant institutions. Work is also being carried out to improve existing regulatory requirements and classification codes in line with the digitalization process.
According to him, this approach will strengthen links between different stages of public finance management, ensure consistent data transfers and enable processes to be managed through a unified mechanism.
“One of the main advantages of this system is that it will ensure a transition to unified classification codes nationwide. As a result, codes currently used in different processes will be linked and consolidated into a single system,” Soltanov emphasized.
