Vusal Gasimli, Executive director of the Center for Analysis of Economic Reforms and Communication, participated in the opening ceremony of the Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) of the International Monetary Fund (IMF) in Almaty, Kazakhstan. did.

Vusal Gasimli said in his speech that President Ilham Aliyev should set the target upper limit of the ratio of the non-oil base deficit to the non-oil gross domestic product in the medium term at 17.5 percent, and 25 percent by the end of 2023. At the same time, the target upper limit of the ratio of the public debt to the gross domestic product for the medium-term period was set at 20 percent. The executive director of IITKM added that Azerbaijan complies with both medium-term fiscal rules. In Azerbaijan, the medium-term expenditure framework and the implementation of the result-based budget have been identified as one of the main directions. In order to link the budget costs for the pilot units of the functional classification with the Sector Strategic Plan and strategic goals, the costs are structured by program/subprogram/measures. Indicators of results for each strategic goal and measure have been defined.

V. Gasimli said that the main fiscal challenges for the Caucasus and Central Asia are the establishment of fiscal buffers, management of fiscal risks, strengthening of fiscal rules and institutions.

V. Gasimli met with Kristalina Georgiyeva, Director General of the IMF within the framework of the event. K. Georgiyeva thanked Azerbaijan for its support in the establishment of CCAMTAC and highly appreciated the cooperation of our country and the IMF.

IMF General Director Kristalina Georgieva, Chairman of the National Bank of Kazakhstan Galimjan Pirmatov, Almaty Mayor Erbolat Dosayev, Deputy Chairman of the Central Bank of Uzbekistan Behzod Hamrayev, Chairman of the Central Bank of Armenia Martin Galstyan, Deputy Chairman of the Central Bank of Turkmenistan Mardangulu Palivanov, Chairman of the National Bank of Georgia were also present at the event. Deputy Archil Mestvirishvili, Minister of Finance of Armenia Vahe Hovhannisyan, Deputy Minister of Finance of Georgia Yekaterina Guntsadze also participated.