Azerbaijan, World Bank mull monitoring, forecasting system in labor market

By Azernews

By Ayya Lmahamad

Azerbaijan’s Labor and Social Protection Ministry and the World Bank representatives have discussed the creation of an improved system of monitoring and forecasting in the labor market and social protection.

During an online meeting held on May 4, Labor and Social Protection Deputy Minister Anar Aliyev spoke about the National Observatory on Labor Market and Social Protection, established by the Azerbaijani president decree of July 4, 2019.

Moreover, representatives of the World Bank and the Observatory exchanged views on possible areas of cooperation and discussed project proposals submitted by the National Observatory.

World Bank Chief Social Protection Specialist Mireille Ovadia, World Bank Chief Economist Maddalena Honorati, National Observatory on Labor Market and Social Protection Chairman Elshan Asadov, and others commented on improving the monitoring and forecasting system for the labor market and social protection.

Earlier it was reported that a memorandum of understanding was signed between the National Observatory on Labor Market and Social Protection and the European Center for Social Welfare Policy and Research. The memorandum envisages the parties to jointly apply for EU-funded projects, jointly implement projects financed by one of the parties, support the preparation of strategic documents for the social sector, and exchange of knowledge and experience.

The National Observatory on Labor Market and Social Protection is the first such analytical center in the region, which provides a comprehensive analysis of demography, labor market and social protection, monitoring adopted programs and strategic documents. In addition, it conducts expertise and surveys, forecasts the labor market, organizes discussions on various issues, prepares proposals, and conducts training and informational activities.

The World Bank started economic cooperation with Azerbaijan in 2001 to help increase the country’s institutional capacity and to build efficient management of oil reserves. The World Bank has always supported the large-scale reforms carried out in Azerbaijan.