OREANDA-NEWS. April 8, 2008. The Cabinet of Ministers created macroeconomic commission to prepare state budget project for 2009 and three next years. The staff of the commission included representatives of Ministries of Finance, Economic Development, Taxes, the National Bank, State Customs Committee, and State Oil Fund.

Emin Huseynov, the NB Research & Statistics Department director, said that to prepare budget forecast for 2009 and middle-term prospect, the NB holds renewal of financial programming system.

“To assist the process Anna Lemblat, a consultant of Switzerland’s State Secretariat for Foreign Affairs, will visit Baku in the second half of May,” E.Huseynov said. A.Lemblat launched work with NBA and other departments last year when the first financial programme was composed.

“Financial programming will allow us to determine key macroeconomic parameters for budget forecasting until the end of May,” E.Huseynov said.

Earlier A.Lemblat has positively estimated progress of The National Bank to create financial programming system but concentrated on providing of progress’ stability and coordination between macroeconomic departments – Ministries of Finance and Economic Development and NB.

The financial programme that is usually developed for three-five period on the basis of parameters of real (national accounts), state (budget), foreign (payment balance) and monetary sectors outlines medium-term macroeconomic framework.

SECO assists NB by Technical Assistance and Trainings Program (TATP). The Program concerns econometric modeling courses, assistance to create centralized statistical database.