Ministry of Finance of the Republic of Azerbaijan

The Ministry of Finance of the Republic of Azerbaijan is the central executive authority implementing the financial policy of the Republic of Azerbaijan and organizing the management of public finances. The Ministry of Finance of the Republic of Azerbaijan was founded in 1918, at the time of the proclamation of the Azerbaijan Democratic Republic. The first Minister of Finance was Nasibbek Yusifbeyli. After the restoration of independence by the Republic of Azerbaijan, the Ministry of Finance of the Republic of Azerbaijan carries out its activities on the basis of the regulations approved by the Decree of the President of the Republic of Azerbaijan No. 48 dated February 9, 2009. Currently, the system of the Ministry of Finance includes the Treasury Department for Central Bodies, the State Assay Chamber, Information and Computing and Financial Research and Educational Centers. The Ministry of Finance prepares draft summaries and state budgets of the Republic of Azerbaijan, ensures cash execution of the state budget in accordance with confirmed indicators, manages insurance activities and public debt, ensures state control in the field of accounting and organization of accounting and in the use of state budget funds, participates in the preparation of proposals to determine the main directions in the policy of state monetary credit and customs.