17:24 - 20.11.2025

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November 20, Fineko/abc.az. The share of labor costs in Azerbaijan's GDP is small compared to the CIS averages.

ABC.AZ reports that MP Ali Masimli said this during the discussion in the first reading of the Bill on the Budget of the Unemployment Insurance Fund for 2026.

According to Masimli, by increasing this ratio, it is possible to attract additional billions of manats to the Pension Fund: "But there are a number of issues that need to be addressed. Firstly, the issue of early retirement is becoming more urgent. Now mothers with five or more children enjoy this right. But there are very few of them. Therefore, I think it would be very fair from a social point of view to extend this benefit to mothers with three or more children.

The second issue concerns pension capital. It is necessary to create conditions for the use of pension capital shortly before retirement. If a citizen died before retiring, I consider it important to amend the legislation in the direction of transferring his pension capital to his heirs."

The MP also noted that it is important to consider the use of real resources to increase the Pension Fund's funds in a broader sense: "Of the 5.1 million employed residents, only 1.8 million work directly under contract. That's 35%. In some countries, this number is 60%, 70%, 80% and even more. I think that of the remaining 3.3 million, some are exempt from taxes in the agricultural sector, but if the rest are at least a little active, then I think we will be able to achieve significant success and attract hundreds of millions of additional funds to this pension fund."