BAKU, Azerbaijan, December 1. The Public Council under the Ministry of Finance of Azerbaijan will focus on organizing an effective public dialogue, improving the transparency of budget documents, supporting reforms in the financial sector, as well as increasing the public participation index and stimulating discussions around the country’s financial policy, Ingilab Ahmadov, the well-known Azerbaijani economic analyst, and newly elected chairman of the council, told Trend.
Composition and priorities of the Public Council
According to Ahmadov, the country has a law on public organizations and public participation.
“Many ministries already have such councils, like the Public Council, and the Ministry of Finance joined this process a little later. The council’s composition is very strong - there are specialists with diverse experience, and we have good potential. In my professional and academic life, I have focused on the public finance sector, and the main operator of public finances is, of course, the Ministry of Finance. Therefore, I know its goals, tasks, and priorities well.
First of all, my colleagues and I will think about how to organize an effective dialogue with the public to receive feedback on financial and fiscal strategy and budget transparency issues. I have been an expert for about 20 years in an international organization on budget transparency, and we have had great success over the past few years, but in terms of public participation, we still have growth opportunities; there are problem areas that we will strengthen and improve. Our goal is to ensure that the results of the council’s work are reflected in an increase in the public participation index,” said the chairman.
He noted that it's also planned to monitor the implementation of reforms from the perspective of long-term budgetary goals, medium-term priorities, budget planning, and fiscal policy.
“Special attention will be paid to accounting and auditing, where we have experts. The council’s composition is quite diverse - there are macroeconomists, theorists, civic activists, and media specialists. I hope we can establish effective joint work,” said Ahmadov.
Goals of the Public Council
He added that in recent years, the Ministry of Finance has significantly increased the volume and accessibility of budget documents on its website, reporting has improved, and this is a major step forward in terms of transparency.
“However, there are still areas that require attention: not all documents are always available in a user-friendly format for the public. The budget is a technical document, understandable to economists, but not to all citizens. The council’s task is to find ways to present it in an accessible form. We plan to assess the current situation, determine priorities for increasing both the quantity and quality of the data provided, including on overall financial policy. Transparency is important not only for the general public but also for specialists: analysts and experts must be able to form alternative opinions and proposals based on accurate data,” the chairman said.
He also noted that in the modern post-oil period, a high-quality, transparent, and stable financial policy is extremely important.
“Public expectations of councils are always higher than what they actually accomplish today. We are setting ambitious goals and want to raise the bar significantly. Our task is to ensure that the public sees the real impact of the council’s work: increased dialogue, discussions, and debates around the budget and financial policy. There are media representatives in the council, which is important for transparency and the activation of public participation.
I know the media sector well, so I understand how important quality analytics and information are for the market. We want the council’s work to strengthen discussions and enhance the effectiveness of the country’s financial policy,” concluded Ahmadov.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel