The accrual and funding of pensions for November ended on November 25, State Social Protection Fund (SSPF) told Turan.
According to the press service, for 10 months, revenues totaled 2 billion fund 208 million manats (+4 % compared to last year). Most grew up (+12 % ) income under mandatory social contributions of employers , amounted to 1 billion 253 million manats , 57 % or 796 million which occurred in the off-budget sector.
Fund expenses amounted to 2 billion 119 million manats , 98 % of which are pensions and social benefits .Average labor pension in Azerbaijan is 170 manats at the minimum level of pensions in 100 manat. Retirement pension is equal to 45 % of salary.
As of October 1, the country registered 1,274,342 labor pensioners, 39.5 % of which are males. Most of the seniors (62.2 %) receive old-age pensions, 27.1 % - on disability, 10.7 % - due to the loss of a breadwinner. - 17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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