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.