Ministry hosts meeting with the International Monetary Fund mission

The Ministry of Labour and Social Protection of Population hosted a meeting with the International Monetary Fund (IMF) mission for Azerbaijan.

During the meeting with the mission, headed by Anna Bordon, Minister of Labour and Social Protection of Population Anar Aliyev provided an overview of the achievements of the social reforms implemented in Azerbaijan in recent years. He highlighted that, as an important component of these reforms, the country has maintained a steady increase in pensions and has taken significant steps to further develop the insurance and pension system in line with international best practices.

It was noted that pension capital recorded in individual accounts has also been increased at the beginning of each year. The Minister further emphasized that, in recent years, a comprehensive digital infrastructure has been established for services in the areas of labour, employment and social protection. Azerbaijan currently operates proactive mechanisms for assigning social payments, including pensions.

The meeting also covered the introduction of more people-centred approaches to the pension system and the measures taken to improve its accessibility. Positive developments in the labour market and the expansion of social insurance coverage were also highlighted.

The parties discussed prospects for future cooperation and the exchange of information on the further development of the pension system, including updates to forecasting methodologies in this area.