Azerbaijani parliament adopts SSPF's draft budget for 2026 in first reading

The Milli Majlis (Parliament) of Azerbaijan has adopted the draft law on the 2026 Budget of the State Social Protection Fund (SSPF) in the first reading.

According to Report, the discussion took place during today's plenary meeting of parliament.

It was noted that in 2026, expenditures of the State Social Protection Fund under the Ministry of Labor and Social Protection of Population are projected to amount to just over 8.483 billion manats (approximately $5 billion), which is 10.5% more compared to 2025.

According to the document, just over 8.323 billion manats (almost $4.9 billion) of expenditures will be covered by the fund's revenues (an increase of 9.3%), while 160 million manats (just over $94.1 million) will be financed from the SSPF's unused balance at the end of the current year (2.7 times higher).

The main part of the SSPF's budget expenditures will consist of payments for labor pensions, benefits financed by social insurance contributions, as well as expenses related to maintaining the fund's apparatus and other structural units.

After discussions, the draft law was put to a vote and adopted in the first reading.