President approves budget of unemployment insurance fund for 2026

President Ilham Aliyev has approved the bill on the 2026 budget of the unemployment insurance fund adopted by the Milli Majlis (Parliament) on December 9, Report informs.

Under the bill, the budget expenditures of the Unemployment Insurance Fund (UIF) under the Ministry of Labor and Social Protection of Population are projected to be 266.4 million manats (just over $156.7 million) for the next year, which is 2.2% more compared to this year.

According to the document, 238.3 million manats (approximately $140.2 million) of the expenses are planned to be covered by the UIF's revenues (15.5% more), while 28.1 million manats ($16.5 million) will come from the fund's unused balance at the end of the current year (48.25% less).