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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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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