Azerbaijan reviews 2027 social fund and unemployment insurance fund budgets

Committees of the Azerbaijani Parliament, the Milli Majlis, discussed draft laws on the 2027 budgets of the State Social Protection Fund and the Unemployment Insurance Fund, along with the subsistence minimum and the need criterion, in the first reading on November 5. The Milli Majlis Press and Public Relations Department reported the meeting. Musa Guliyev, Chairman of the Committee on Labor and Social Policy, said social policy has consistently held a priority position in the country's domestic policy.

The State Social Protection Fund's revenues are projected at 9.22 billion manat ($5.42 billion) in 2027, up 10.8% from the current year's forecast, while expenditures are projected at 9.27 billion manat ($5.45 billion). The average monthly pension is forecast to reach 640 manat ($376). The Unemployment Insurance Fund's expenditures are projected at 319 million manat ($188 million), of which 113 million manat ($66.5 million) is earmarked for self-employment programs, with about 14,500 people expected to take part.

The nationwide subsistence minimum is set at 314 manat ($185), with 334 manat for the working-age population, 258 manat for pensioners and 274 manat for children. Minister of Labor and Social Protection of Population Anar Aliyev said consistent measures will continue next year in line with the reform program of President Ilham Aliyev, and that financing has been provided for the next social reform package.