This annual tradition, now in its seventh consecutive year, applies to a broad demographic including employees of all enterprises, pensioners, students, and even children in kindergarten. The funds are scheduled for distribution between 2 and 6 March as part of a state-led celebration of the occasion.

While the nominal value of the gift has remained steady since it was raised from 40 manats in 2019, its actual purchasing power has plummeted due to significant domestic inflation. Currently equivalent to approximately $3 (c. £2.25) at the black-market exchange rate, the 60-manat sum stands in stark contrast to the 40-manat payment of 2019, which was worth over $11 (c. £8) at the time, The Caspian Post reports.

Over the same period, the cost of living has surged; for instance, the price of beef has climbed from 22 to 110 manats per kilogram, and locally grown apples have more than quadrupled in price.