MASTER LECTURE ON FINANCIAL SELF-SUFFICIENCY AT SSU
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On April 30, professor Nazim Imanov, director General of the Institute of Economics of the Ministry of Science and Education of the Republic of Azerbaijan, gave a lecture on "Financial self-sufficiency of Azerbaijan's regions" for the academic staff of the faculty of Economics and Management at Sumgayit State University (SSU).
Speaking about the strategic importance of determining financial self-sufficiency in individual regions, Nazim Imanov noted that the Research Group created for this purpose was established under the SEM Institute of Economics by the decision of the Cabinet of Ministers.
Nazim Imanov stated that it is possible to assess the level of financial self-sufficiency of the administrative and economic regions of the country and to determine its rating based on this, by applying 3 different methodologies. Along with these, the Director General emphasized the effectiveness of indexing budget expenses in the subsidy ratio, adding municipal self-sufficiency to the result with the first methodology, and examining the actual expenses based on the ratio of actual income.
The regions and cities are divided into 3 groups according to the level of self-financing, the lecturer talked about the leading world practices that should be shown as an example in research in this direction.
Later, the lecturer and the members of the Research team answered the questions of the participants about the topic.
TRANSLATED BY: LANGUAGE AND TRANSLATION CENTER
