In the second half pension complete function will be in electronic format.
According to the Chairman of the State Social Protection Fund (SSPF) Salim Muslimov, they have completed work on the software. The new method of charging citizens can contact the local offices of SSPF for approval of information about existing work record.
Now they systematize data on seniority before January 1, 2006. This means that processed and entered into the system data on 28% of the 2 million 435 thousand payers of compulsory social insurance.
Regarding the possible increase in the basic part of labor pensions by 15-20%, Muslumov noted the importance of creating full financial reserves. The work is conducted and the population will soon be informed.
According to official data, the basic part of labor pension in Azerbaijan is 85 manats. The average retirement pension in the last year amounted to 152 manat (+4.9%), and the occupational old-age pension was an average of 168 manat (+42.5%).
According to recent reports, the state fund individual accounts have compulsory insurance 2 million 435 thousand people, with the total number of pensioners in 1 million 272 thousand 136 people. - 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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