11:53 - 22.10.2026

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October 22, Fineko/abc.az. Nearly 60% of Azerbaijan's State Budget will be projected electronically, Finance Minister Sahil Babayev said at the Baku conference on the theme "Ecosystem of Digital Finance: A New Stage in Governance".

He added that in general, in about three years, public funds, state assets, non-financial assets and other assets of Azerbaijan will be fully accounted for in a single electronic register.

"This register will allow us to fully link data with e-contract systems, e-treasury and e-budget. When forecasting based on the register, approx. 60% of the State Budget in the following years will be formed on the basis of electronic forecasting. After the relevant data is generated, there will be no need for an individual approach," the minister said.

In addition, Babayev said that the electronic acceptance mechanism will be fully launched in the coming days.

"Currently, advance, executive and other bank guarantees are issued through an electronic platform. This completely eliminated the time loss of 5-10 business days. The relevant mechanism is already at the final stage and will be fully operational in the coming days. This innovation will further improve the activities of financial departments," he said.