Baku: Azerbaijan’s State Social Protection Fund is set to allocate a significant budget of 8 billion 483 million manats in 2026, with 96.6% of this amount dedicated to payments to the population. This announcement was made by Minister of Labor and Social Protection of the Population, Anar Aliyev, during a plenary session of the Milli Majlis, as the draft law ‘On the Budget of the State Social Protection Fund for 2026’ was discussed.

According to Azeri-Press News Agency, the Fund’s revenues for 2026 are projected at 8 billion 323 million manats, marking an increase of 705.7 million manats or 9.3% from the projected revenues for 2025. A substantial portion, 79.2% or 6.6 billion manats, of the revenues will come from mandatory state social insurance contributions. This is an increase of 593.7 million manats or 10% compared to the current year’s figures. Contributions from budget-funded organizations are projected at 2.1 billion manats, while non-budget organizations are expected to contribute 4.5 billion manats, accounting for 68% of social insurance payments.

In comparison to the approved indicators for 2025, contributions from budget-funded organizations are expected to rise by 3.6% or 73.4 million manats. Meanwhile, contributions from the non-budget sector are projected to increase by 13.1% or 520.3 million manats. To balance the Fund’s budget, state budget allocations to finance state obligations are forecast to be 1 billion 700 million manats in 2026, representing a 100 million manats or 6.3% increase over the approved amount for 2025. The share of these allocations in the Fund’s revenues is projected to decrease from 38% in 2017 to 20.4% in 2026. Additionally, the 2026 budget draft includes nearly 160 million manats from reserves accumulated in previous years to support state budget expenditures for the upcoming year.

The total expenditures of the Fund for 2026 are projected at 8 billion 483 million manats, with 8 billion 196 million manats directed to payments to the population. This amount is 1 billion 534 million manats higher than in 2024 and 788 million manats higher than in 2025. Of this allocation, 7 billion 993 million manats will cover labor pensions, while 203.6 million manats will be used for benefits provided through social insurance.