BAKU, Azerbaijan, June 9. A single register of
state assets will be established in Azerbaijan, Finance Minister
Sahil Babayev said during the discussion of the draft law "On the
execution of the 2025 state budget of Azerbaijan" at a meeting of
the Parliament's Economic Policy, Industry and Entrepreneurship
Committee today, Trend reports.
According to him, serious steps are also being taken towards the
electronization of public services.
''The electronic contract system has already been commissioned.
All public procurement contracts concluded in recent months are
being formalized electronically,'' Babayev added.
The minister noted that as soon as this system is fully formed,
a single register will be established for state property, vehicles,
inventory, and other state assets. At the same time, a single
database will be formed on the balance sheet value and depreciation
indicators of state assets.
"This will allow for more accurate and automated planning of
current maintenance and operating expenses of the budget.
Our goal is that in the future, approximately 60-70% of the
budget will be formed on the basis of automated mechanisms. Once
the necessary databases and electronic systems are fully ready,
steps in this direction will be further accelerated," he said.
Furthermore, Babayev added that electronic treasury and
electronic contract systems also play a significant role in
preventing receivables and other financial risks.
"As these systems are widely implemented, the possibility of
unsecured liabilities and uncontrolled debts will be significantly
reduced.
Electronic financial reporting and audit mechanisms of state
enterprises will also allow for more systematic and operational
control over the management of state finances," he explained.
The minister emphasized that certain difficulties also arise in
the implementation process.
"Because the timely and high-quality implementation of some
projects in terms of procedure requires considerable time," he
added.
