In cooperation with the Tax Inspectorate individual accounts of social insurance in the first half were supplemented by 15 412 units or 0.5%. In total, as of July 1, the owners of these accounts were 3 million 98 thousand 817 people, according to data released by the State Social Protection Fund (SSPF).
It was noted that the majority (59.1%, or 1,831,564 people) of the insured are men, while 40.9%, or 1,267,253 people are women. Regarding age groups - most insured in SSPF are citizens from 30 to 40 years old (24.84% or 769 703). The proportion of young people under 30 years is 21.59% (669 101), at the age of 50 to 60 years – 21.15% (655 449), from 40 to 50 years - 20.69% (641,144 people), and older than 60 - 11.73% (363 420).
Recall from January 1, 2006 the country according to law "On labor pensions" has moved to the use of a personalized (individual) accounting of social insurance. For each payer of contributions for compulsory social insurance individual accounts are opened, which accumulate paid contributions for compulsory social insurance. --17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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