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Labour pensions of about 90,000 people of the corresponding categories will be increased on the basis of the new Rules approved by the Decree of President Ilham Aliyev                   Minor residents of the rehabilitation institution met with servicemen

Public relations / News
18.12.2017

International Monetary Fund: Significant achievements in the field of social security and labour market have been achieved in Azerbaijan

The steps taken towards strengthening the social security system in the conditions of sustainable economic development in our country, ensuring efficient employment of labour resources and transition from passive labour market programs to active programs are also appreciated by influential international organizations.
As another example of this, it is stressed in a statement to the press of the head of the International Monetary Fund (IMF), Mohammed El Gorchi visited the Republic of Azerbaijan to hold discussions in the context of the 2018 Article IV Consultation, "The mission welcomes the government's progress in implementing their structural reform agenda. Notable improvements have been made in social protection and labor markets, including a new unemployment insurance fund, implementation of pension reform, and a shift from passive to active labour market programs".
Note that a meeting with the staff was held within the framework of the visit of the IMF staff headed by Mohammed El Gorchi on 30 November - 14 December at the Ministry of Labour and Social Protection of Population of the Republic of Azerbaijan. During the meeting, detailed information about the reforms carried out in our country in the field of improvement of the social security system, including the insurance-pension system on the basis of advanced world practice, measures aimed at developing social protection policies based on active labour market programs, as well as self-employment program aimed at transition of low-income families from poverty to a small family business, also the newly adopted Law of the Republic of Azerbaijan "On Unemployment Insurance". It was brought to the attention that the Unemployment Insurance Fund, which will be formed in connection with the application of this law from the beginning of 2018, will play an important role in expanding active labor market programs in the country.
M. El Gorchi said that the new insurance fund, created for granting unemployment benefits, reforms carried out related to pensions, a shift to active labour market programs, has led to positive improvements in the field of social protection and labor market in Azerbaijan. He underlined that thanks to active macroeconomic policies and higher oil prices in the country, the economy stabilized in 2017: "The non-oil economy began to increase as a result of the revival of services and agricultural sectors".
It was also noted that the prospect of economic growth in the country in the near future is also positive. It was noted that in 2018, the non-oil sector is expected to rise by 4% in the conditions of increasing public investment spending and social expenditures. In general, it is predicted that the economic growth in Azerbaijan will be 2% in 2018.

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