Azerbaijan’s average pension seen rising to 639 manats in 2027

Azerbaijan’s average labour pension is expected to rise to 639 manats in 2027, while the average old-age pension is forecast at 680 manats, Labour and Social Protection Minister Anar Aliyev said on Friday.

Speaking at a meeting of parliamentary committees, Aliyev said the State Social Protection Fund’s spending next year was projected at 9.273 billion manats, up 789.5 million manats, or 9.3%, from the approved 2026 figure. Payments to the population would account for 8.95 billion manats.

The fund’s revenues are forecast at 9.221 billion manats, 10.8% above the approved 2026 figure. Social insurance contributions are expected to make up 82.3% of revenue. Projected spending exceeds revenue by 52 million manats.

Aliyev said 444,000 people were expected to take part in active employment measures financed by the Unemployment Insurance Fund in 2027. The government plans to help 173,000 people find jobs, enrol 14,500 in a self-employment programme and provide vocational training to 18,500.

The number of employment contracts in the private sector increased by 5.8%, or 59,000, from the same period last year, Aliyev said. The State Statistics Committee reported that 52,000 new jobs were created in January-June, up 7% year-on-year.

The 2027 state budget draft allocates 5.503 billion manats for ministry programmes including payments to residents, health insurance and paid public works. Revenues of the Compulsory Medical Insurance Fund are projected at 2.257 billion manats, with spending of 2.98 billion manats.