BAKU, Azerbaijan, November 5. The subsistence minimum in Azerbaijan is projected to stand at 329 manat ($193) in 2028, 344 manat ($202) in 2029, and 359 manat ($211), Deputy Minister of Economy Sahib Alakbarov said on Thursday.
He made the remarks during a joint meeting of the Parliament's Committee on Labor and Social Policy and the Committee on Economic Policy, Industries and Enterprising Enterprises, where lawmakers discussed the draft law "On the 2027 Budget of the State Social Protection Fund."
Alakbarov noted that in 2027, the subsistence minimum in Azerbaijan is projected at 314 manat ($185), including 334 manat ($196) for the working-age population, 258 manat ($152) for pensioners, and 274 manat ($161) for children.
According to him, the subsistence minimum for 2026 was set at 300 manat ($176), including 317 manat ($186) for the working-age population, 245 manat ($144) for pensioners, and 260 manat ($153) for children.
Furthermore, Alakbarov emphasized that investment activity plays a crucial role in economic growth and the creation of new jobs.
"During the first nine months of the current year, investments in fixed capital rose by 10.9% in real terms, while private investments in the non-oil and gas sector grew by approximately 21%. These investments facilitate the development of new production and service sectors, as well as the expansion of economic activity and employment in the regions," he explained.
The deputy minister also outlined the key economic priorities for the period ahead.
According to him, the primary objectives include the full implementation of established support mechanisms alongside regular assessments of their economic impact, the creation of long-term financing mechanisms for industrial and production projects, and the expansion of both the volume and geographical reach of non-oil and gas exports.
Furthermore, priorities include the accelerated execution of strategic investment projects, the promotion of economic activity along transport corridors, and ensuring the implementation of the socio-economic development strategy for 2027–2030, as well as the second State Program for the Great Return.
