Next year, pensions may be increased twice - the presidential decree on indexation of minimum pensions (all seniors) in connection with consumer inflation and the increase in the insurance part of labor pensions. In the second case indexing will also be tied to the consumer price inflation in 2012.
Today marks 20 years of the State Social Protection Fund (SSPF). According to the SSPF chairman Salim Muslimov, in honor of the anniversary, today the average level of pensions in the country totaled AZN 151.3 (2003: AZN 20). Retirement pension is 167 manat.
According to him, the fund passed 4 stages of formation - from 1992 to 1995, from 1996 to 2002, from 2003 to 2005 and from 2006 to the present day. In 2003, the ratio of pensions to wages (coefficient of netting) was 23%, this figure is 40%.
Azerbaijan has over 1.2 million seniors, said Muslimov. - 17D-
Economics
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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