Baku:Azerbaijan's subsistence minimum is expected to reach 359 manats by 2030, as stated by Deputy Minister of Economy Sahib Alakbarov during a recent meeting of the Milli Majlis Committee on Labor and Social Policy.

According to Azeri-Press news agency, Alakbarov outlined that the minimum social standards for the years 2027-2030 are projected based on the subsistence minimum, minimum wage, needs criterion, and the minimum amounts of social benefits and allowances. The projections for the subsistence minimum are calculated using data from the State Statistical Committee, adjusted for expected and projected inflation rates.

For the years 2027 through 2030, the projected subsistence minimums are set at 314, 329, 344, and 359 manats, respectively. For 2026, the figures are set at 310 manats nationwide, with specific amounts allocated for different demographics 317 manats for the working-age population, 245 manats for pensioners, and 260 manats for children. The inflation rates for these years are forecasted to be 5.3%, 4.8%, 4.6%, and 4.3%. Alakbarov also highlighted the main tasks for the coming period, which include implementing support measures, establishing financing mechanisms for projects, expanding non-oil exports, and ensuring the socio-economic development strategy for 2027-2030.