BAKU, Azerbaijan, November 19. The discussion of the draft state budget for 2026, the largest budget package in Azerbaijan’s independence history, coincides with the 5th anniversary of the victory that has been inscribed in modern statehood with golden letters, said the country's Finance Minister, Sahil Babayev, at today’s plenary session of the parliament, Trend reports.
Speaking during the discussion of the draft law “On the State Budget of the Republic of Azerbaijan for 2026,” Babayev noted that this success, achieved through President Ilham Aliyev’s foresight, consistent reforms in state and military governance, and the effective mobilization of economic and financial resources, now forms the basis of the financial framework presented in the new budget proposal, which aims to advance the nation from victory toward a prosperous society.
The minister stated that next year’s budget proposal is presented as a continuation of the path that led to the historic victory.
“The fact that strategic foreign exchange reserves have reached $82.5 billion and that external public debt equals only six percent of GDP represents yet another indicator of the effectiveness of economic policy and the results of ongoing reforms. It should be emphasized that the comprehensive reforms carried out are also recognized by international rating agencies, and after Fitch, Moody’s has also raised Azerbaijan’s sovereign credit rating to investment grade this year,” Babayev said.
The minister also noted that the growing capabilities of the state have created favorable conditions for strengthening social protection and consolidating the country’s position as a social welfare state.
“As a result of the initiatives of the head of state, the fifth social reform package was implemented in 2025, increasing minimum wages, minimum pensions, and the amounts of benefits and allowances. All these reforms are another reflection of the president’s continuous attention to improving the well-being of the population, especially citizens belonging to socially vulnerable groups,” he concluded.
Azerbaijan's 2025 social reform program includes multiple hikes to the minimum wage, pensions, and allowances. Changes include raising the minimum monthly pay to 400 manats on January 1, 2025, and increasing the minimum labor pension to 320 manats on February 1, 2025. The package also includes new or increased monthly and one-time stipends for families of martyrs, people with disabilities, mothers with multiple children, and low-income families.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel