Azerbaijan increases budget allocations for social welfare payments

The budget of Azerbaijan for 2024 addresses allocating AZN 1,738.5 million ($1.02 billion) for expenses for financing allowances paid to vulnerable segments of the population in connection with age, disability, limited health, loss of the head of the family, and other social benefits; presidential pensions paid to disabled war veterans, disabled people due to general diseases, veterans war, and families of martyrs.

As Report informs, citing the draft consolidated and state budgets of Azerbaijan presented by the Ministry of Finance, that the next year's respective amount is AZN 301 million ($177 million) or 17.3 per cent more than the funds allocated in 2023.

For the provision of targeted state social assistance, AZN 457.3 million ($268.8) is provided (AZN 179.5 million ($105.5 million or 64.6 per cent more than in 2023), while for expenses related to public works proposed in order to increase employment opportunities for the unemployed portion of the population within the implementation of the “Action Plan for the Implementation of the Employment Strategy of the Republic of Azerbaijan for 2020-2025”, AZN 285.8 million ($167.8 million) (AZN 20 million ($11.7 million or 7.5 per cent more than in 2023) is announced.