BAKU, Azerbaijan, October 22. The
digitalization of public finance will help increase transparency,
expand citizens’ access to information and strengthen public
oversight of budget revenues and expenditures, Eyyub Karimli, a
member of the Public Council under Azerbaijan’s Ministry of
Finance, said, Trend's correspondent reports from the event.


He made the remarks at a conference on the digital
transformation of public finance held in Baku on Thursday.


Karimli said the world was on the threshold of a new information
revolution, with digitalization playing a leading role in the
process. Digitalization should be viewed not only as a
technological innovation but also as a means of making life easier
for citizens and enabling them to participate more actively in
economic processes.


According to Karimli, one of the main benefits of digitalization
is reducing time lost on routine procedures. Electronic systems
enable faster transactions, creating additional opportunities for
both citizens and the private sector.


He noted that introducing digital solutions in public finance
helps reduce human involvement and potential misconduct in payment
processes while improving transparency.


“Another important issue is ensuring transparency and access to
information. Citizens gain the opportunity to obtain relevant
information, monitor the transparency of transactions and access
additional details,” he said.







Karimli emphasized that digitalization also helps provide equal
access to services for people living in regional areas and those in
major cities. Electronic systems make services faster and more
accessible.


He added that digitalizing public finance was also important for
strengthening public oversight. Making information on budget
revenues and expenditures, including open data, accessible would
enable further analysis and research.


“Making information on budget revenues and expenditures publicly
available and using it for analysis and research will have a
significant impact on the exercise of public oversight in the
future,” he said.


Furthermore, Karimli added that, more broadly, digitalization
accelerates economic activity in both the private sector and among
citizens, allowing them to participate in economic processes more
efficiently.