BAKU, Azerbaijan, November 19. Expenditures of Azerbaijan’s Unemployment Insurance Fund (UIF) will rise next year, increasing by 5.7 million manat ($3.35 million) to reach 266.4 million manat ($156.7 million), Trend reports, citing the Ministry of Labor and Social Protection of the Population (MLSPP).
The ministry noted that around 450,000 people are set to roll up their sleeves and dive into active employment programs in the year ahead.
Revenues of the fund are projected at 238.3 million manat ($140.1 million), which is 31.9 million manat ($18.7 million) more than this year. Meanwhile, UIF expenditures are forecast to reach 266.4 million manat ($156.7 million), growing by 5.7 million manat ($3.35 million) (2.2 percent) compared to the current year.
These funds will cover unemployment insurance payments, implementation of the self-employment program, vocational training, paid public works, additional education, provision of career counseling services, preparation of occupational standards, partial financing of wages in social workplaces, creation of social enterprises, targeted programs, and other active employment measures.
Overall, the fund aims to involve nearly 450,000 people in active employment initiatives in 2026. The UIF will also continue to play a key role in supporting the self-employment program, which helps unemployed and job-seeking individuals launch small businesses.
Next year, small household businesses will be created for 15,000 families under the self-employment program. Of these, 8,000 will be financed through the fund’s resources, while the remaining 7,000 will be supported under a World Bank (WB) project.
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