Azernews.Az

Nazrin Abdul

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On September 12, the Economic Council of the Republic of Azerbaijan held its latest meeting under the chairmanship of Prime Minister Ali Asadov, Azernews reports, citing the Cabinet of Ministers.

The agenda focused on key national economic matters, including the draft state and consolidated budgets for 2026, as well as projections for the consolidated budget over the following three years. Participants also reviewed global economic trends, key assumptions behind budget forecasts, the current economic situation, and the updated macroeconomic outlook for 2025–2029.

Other major topics discussed included the main goals, directions, and targets of fiscal policy for 2026–2029; funding for the reconstruction and revitalization of Garabagh and Eastern Zangazur; implementation of the “Great Return” program; the Medium-Term Expenditure Framework; expansion of results-based budgeting mechanisms; and targets for fiscal rule parameters. The current state of macroeconomic and financial stability and related policy directions were also examined.

The meeting featured reports from Minister of Economy Mikayil Jabbarov, Minister of Finance Sahil Babayev, Governor of the Central Bank Taleh Kazimov, and Minister of Labour and Social Protection Anar Aliyev. Council members held in-depth discussions on the topics presented.

At the conclusion of the meeting, instructions were issued to the relevant agencies to submit all documents and data related to the 2026 budget package to the Cabinet of Ministers. These materials will then be presented to the President of the Republic of Azerbaijan, taking into account the opinions and proposals of the Economic Council members.