Azerbaijani President Ilham Aliyev has approved the bill on the 2026 budget of the State Social Protection Fund, which was adopted by the Milli Majlis (Parliament) on December 9, Report informs.
According to the bill, next year's budget expenditures of the State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of the Population are projected to exceed 8.483 billion manats ($4.99 billion), marking a 10.5% increase year-on-year.
It is planned that just over 8.323 billion manats (over $4.89 billion) of the expenses will be covered by the SSPF's revenues (9.3% more YoY), while 160 million manats (just over $94.1 million) will be covered by the fund's unused balance at the end of the current year (2.7 times more YoY).
The main part of the SSPF budget expenditures will consist of payments for labor pensions, benefits paid from social insurance contributions, as well as expenses related to the maintenance of the SSPF's apparatus and other structural units.