Footsteps of the Postneft era - penalty economy

Although the existing pension model in Azerbaijan is built on the principles of social insurance and solidarity, the limited nature of individual savings and inheritance mechanisms has led to serious criticism. At the same time, the absence of non-state pension funds creates risks for the long-term sustainability of the system. In addition, the fate of pension capital remains uncertain for individuals who die before reaching retirement age or during the pension payment period defined as 12 years (144 months).

The World Bank is allocating a grant of $11.74 million as part of a large-scale project aimed at improving the environmental condition of the Caspian Sea and preserving biodiversity. According to experts, this support is important for strengthening regional cooperation at a time of sharply declining water levels and rising environmental risks.

On the eve of Novruz, the ancient spring holiday symbolizing renewal and abundance, markets across Azerbaijan were, as always, crowded. Families moved from stall to stall, selecting dried fruits, nuts, rice, and sweets—the essential ingredients of a traditional festive table steeped in custom. Yet this year, the ritual was accompanied by a sharper awareness of cost.

Azerbaijan has formally introduced an annual review mechanism for the minimum wage after parliament approved amendments to the Labour Code and President Ilham Aliyev signed them into law, according to an official publication.