BAKU, Azerbaijan, November 19. Social reforms implemented in 2018-2025 have not only improved social welfare but also increased economic participation, Azerbaijan's Economy Minister Mikayil Jabbarov said during today’s plenary session of the parliament, Trend reports.
Speaking at a discussion on the draft law “On the State Budget of the Republic of Azerbaijan for 2026,” Jabbarov noted that the social reform package, which included a 2.6-fold increase in the average monthly pension and a fivefold rise in annual allocations for social benefits, along with measures to formalize the labor market, has strengthened both social security and economic engagement.
The minister drove home the point that Azerbaijan, with its impressive growth, abundant resources, economic grit, and hefty foreign currency reserves, stands head and shoulders above the rest in the South Caucasus and is among the top contenders in Central Asia.
“Considering the country’s existing advantages and potential, including natural and geographical benefits, transport corridors, economic activity traditions, and available expertise, key drivers of economic growth in the strategic period ahead include the potential energy hub and trade opportunities, green energy, transport-transit-logistics, the non-oil and gas industry including mining and petrochemicals, real estate and construction, the Alat economic zone, the transition to a digital economy, tourism and entertainment, and the export of various services such as IT, finance, and healthcare,” he said.
Jabbarov added that one of the most important conditions for competitive and sustainable economic growth is increasing productivity across all sectors, particularly in export-oriented industries, through the adoption of high technologies and artificial intelligence.
Between 2018 and 2025, Azerbaijan executed five extensive social reform initiatives designed to enhance citizen welfare, fortify social protection, and digitize public services. The changes encompassed significant augmentations in social payments, the implementation of the single-window DOST service system, and a range of job and rehabilitation initiatives.
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