For CCAMTAC member countries, in general CCAMTAC advisors focus on the following areas:
• Macroeconomic analysis: macro-frameworks, analysis, forecasting, and communications.
• Fiscal policy: public financial management, macro-fiscal issues, revenue administration.
• Monetary and financial sector: central bank operations and financial regulation and supervision.
• Macroeconomic statistics: national accounts, price, and government-finance and debt statistics.
Technical assistance (TA) is demand driven, taking into account priorities and available resources. Capacity development activities for Azerbaijan included:
Macroeconomic Frameworks: Scoping Mission (July 26-30, 2021)
CCAMTAC delivered a virtual scoping mission to the Macroeconomic Analysis and Forecasting Department of the Ministry of Economy of Azerbaijan. The mission took stock of existing capacity and, together with the authorities, drafted an action plan for strengthening the analytical, modeling and forecasting system of the Ministry. The planned program will be built on past TA by partners and be coordinated with relevant stakeholders.
Government Finance and Public Sector Debt Statistics: Improve GFS data for policymaking (May 17-21, and July 22 - August 4, 2021)
Two missions supported the authorities’ effort to improve government finance statistics (GFS) and data for policymaking and discussed areas for further improvements. The first mission identified and discussed several compilation challenges and advised on improving compilation practices. The second part of the remote TA focused on implementation. It supported the authorities in addressing some of the challenges. For example, the team established a bridge table that can be used to correctly classify nonfinancial transactions. Also, the classification of transfers from the central bank to the ministry was reviewed. In addition to the bilateral technical work with the GFS team, a three-day workshop was offered for source data providers and users of GFS as inputs for other statistical products to sensitize these stakeholders.
Public Financial Management (April 12 - May 14, 2021)
An expert assisted the authorities to further develop and operationalize a rules based macro-fiscal framework through forecasting and analysis. The work involved reviewing and improving the tools that are currently used in the Ministry of Finance to build a credible macro-fiscal baseline for the budget consistent with their fiscal rule, evaluate medium- and long-term macro-fiscal scenarios under various assumptions, and delivering any needed training to the macro-fiscal team.
Macroframeworks (March 29 - April 2, 2021)
A virtual TA mission made proposals to streamline the list of macroeconomic indicators that the Ministry of Economy (MoE) prepares as input for the Ministry of Finance (MoF) for the preparation of the medium-term expenditure framework (MTEF). In determining the list, two angles were considered: the necessary cross-sectoral input needed by the MoF for their projection tools; and the macroeconomic forecast disclosure practices that would ensure transparency and accountability. In addition, the mission initiated some scoping for a requested future FP2.0 TA project to review and strengthen the current macroeconomic forecasting tools and processes. The mission also provided information on good practices regarding the publication of macroeconomic forecasts.
Monetary and Foreign Exchange Operations (January 15 - April 30, 2021)
The virtual mission reviewed past TA, assessed TA needs, and provided the future CCAMTAC resident advisor on central banking with input for a work plan.
