Assessment of the medium-term expenditure framework in the context of state budget formulation

Abstract

Purpose of the research: The study aims to define and assess the medium-term expenditure framework (MTEF) within the context of state budget formulation in Azerbaijan.

Research methodology: Comparative analysis, logical generalization, systems approach, and mathematical analysis methods were employed throughout the research.

Practical significance of the research: The comprehensive analyses conducted in this study can be instrumental in the successful implementation of the medium-term expenditure framework and in determining economic efficiency regarding budget expenditures.

Research findings: Defining the medium-term expenditure framework for state budget formulation is crucial for determining intersectoral economic expenditures and regulating overall economic relations.

Originality and scientific novelty of the research: The study identifies the formulation trends of the state budget's medium-term expenditure framework, calculates the impact of the budget multiplier on GDP, and determines the elasticity coefficient.