BAKU, Azerbaijan, May 4. The Ministry of Finance of Azerbaijan and Harvard University’s Growth Lab discussed cooperation in the areas of macroeconomic policy and fiscal frameworks, Trend reports, citing the ministry.
On May 4, Anar Karimov, First Deputy Minister of Finance of the Republic of Azerbaijan, held a meeting with a delegation led by Professor Ricardo Hausmann, Director of Harvard University’s Growth Lab, who is currently visiting the country.
The meeting reviewed the existing partnership under the ongoing project with Harvard University in the areas of research, education, and training, as well as joint analytical activities in the fields of macroeconomic policy, the fiscal framework, and economic development.
Karimov provided information on the country’s macroeconomic situation and forecasts for 2025–2026, noting that economic growth is driven primarily by the non-oil sector, while inflation is showing relatively stable trends. It was noted that, in order to strengthen the country’s fiscal framework, budget rules have established targets for the non-oil deficit and the government debt-to-GDP ratio, and measures are being consistently implemented to preserve the assets of the Oil Fund and increase non-oil revenues.
At the same time, Karimov stressed that the consistent implementation of fiscal reforms is crucial for strengthening the sustainability of public finances and ensuring medium-term macroeconomic stability.
In turn, Ricardo Hausmann noted that cooperation with Azerbaijan is of a sustainable nature and emphasized that the joint analytical activities being carried out contribute to an in-depth analysis of the country’s economic development directions and the effective formulation of economic decisions.
The meeting also included an exchange of views on analytical reports prepared by the Growth Lab Center, a discussion of the analysis results, and a review of the feedback and suggestions provided.
The parties noted the importance of continuing joint research aimed at ensuring the sustainability of macroeconomic policy, as well as strengthening fiscal and monetary stability, improving the investment climate, and expanding access to financial resources.
