BAKU, Azerbaijan, November 21. Azerbaijan has allocated 16.9 billion manat ($9.9 billion) for social expenditures in its state budget for the year 2025, the country’s Minister of Labor and Social Protection Sahil Babayev said at a joint meeting of two committees of the Azerbaijani Parliament, Trend reports.
The Minister noted that spending on social protection and social security will increase by 10 percent compared to the current year. A substantial 96 percent of these funds will be directed toward payments to the population.
"7.2 billion manat will be allocated for financing labor pensions. It is forecasted that the average amount of labor pensions will reach 531 manat [$312.3].
The average size of labor pensions in 2019 was 264 manat [$155.2]. For old-age labor pensions, this figure will be even higher, reaching 569 manat [$334.7], compared to 292 manat [$171.7] in 2019," he added.
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