By 1 November individual accounts of social insurance belonged to 3,336,912 people (+ 4.9% or 156,758 index cards by 1 January), the press service of the Ministry of Labor and Social Protection said.
More than a quarter (25.5%) of the accounts regard workers aged 30 to 40 years. Oddly enough, in the second position (21.1%) are workers aged 50 to 60 years, followed (20.2%) by young people under 30 years, and 20.1% are those who are 40 to 50 years old. Workers over the age of 60 years are behind - their share is 13.1%.
Individual records of social insurance in Azerbaijan have been applied from 1 January 2006 as a result of the reform of the pension system. On retirement, the basic pension is accrued a part based on mandatory contributions to the State Social Protection Fund. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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