Pension reforms and recent developments in the labor market were discussed at a meeting with the International Monetary Fund mission

A presentation on the analysis of Azerbaijan’s labor market was delivered.

A meeting was held at the Ministry of Labor and Social Protection of the Population with the delegation of the International Monetary Fund (IMF) mission to Azerbaijan, led by Mission Chief Anna Bordon.

During the meeting, Minister of Labor and Social Protection of the Population Anar Aliyev highlighted the achievements of the social reforms implemented in recent years in the country. It was noted that as a result of five social reform packages implemented over the past seven years under the instructions of President Ilham Aliyev, significant increases have been recorded in social payments, including pensions.

It was emphasized that under the President’s new Decree, pensions have been indexed and increased by an additional 9.3 percent since the beginning of this year. Steps taken to apply humane approaches within the pension provision system were also discussed. The digital services created in recent years in the field of social protection and proactive appointment mechanisms were highlighted.

Information was provided on development trends in the country’s labor market, the steady annual increase in the number of employment contracts, the active labor market programs being implemented, and the development and approval of occupational and qualification standards. Recent amendments to labor legislation, measures taken to expand women’s employment opportunities, and projects aimed at youth employment were also noted.

An exchange of views was held with the mission on pension reforms and recent developments in the labor market.

Subsequently, at a meeting held with the participation of Deputy Minister of Labor and Social Protection of the Population Rashad Mustafayev, the IMF delegation delivered a presentation on the analysis of Azerbaijan’s labor market.