According to the instructions of the President of Azerbaijan, the minimum wage and the minimum pension will be raised again from next year. The Ministry of Labour and Social Protection of the Population is expected to submit its proposals by November 1. Discussions are expected to continue and the financial burden will be calculated within the framework of next year’s budget documents.
But apart from pension and salary, what other payments can be increased?
Oku.Az This is reported by Milli Majlis Deputy Economist Vugar Bayramov.
According to him, the state budget for next year is expected to spend 4.998 billion manats on social protection and social security. In 2024, it is planned to spend 4.391 billion manats on this area. Thus, the next social expenditures will increase by 14 percent.
“Although the structure of social protection and social security expenditures was not mentioned in the initial draft budget, it should be added that the majority of funds are allocated to the social sector through the State Fund for Social Protection. In other words, more funds are allocated to the social sector than provided for in the aforementioned budget article.
The initial parameters of the budget show that deepening the social package will be a priority in 2025. It is expected that during the budget discussions all information on specific increases will be presented,” Vugar Bayramov said.
