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
-
Russian delegates at the COP 29 climate summit have reaffirmed their commitment to upholding the principles of the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. The Russian Federation stressed the importance of adhering to the principle of "common but differentiated responsibilities," arguing that developed nations must continue to honor their commitments to climate finance, while allowing developing countries to contribute on a voluntary basis.
-
The world faces a shortfall of up to $87 billion annually for climate adaptation efforts by 2030, according to Lord Livermore, Financial Secretary to the UK Treasury. Speaking at the panel discussion titled "Mobilizing for Climate Action: Countries, Multilateral Financial Organizations, and the Private Sector Implementing the Paris Agreement," Livermore highlighted the urgent need for increased investment in adaptation measures.
-
In the first nine months of 2024, Azerbaijan’s alcohol and non-alcoholic beverage production totaled a mere $53 million, underscoring the dismal outcomes of the State Program for the Development of Winemaking (2018–2025). Despite being endorsed by the president in 2018, the program has delivered lackluster results despite formal state funding. In essence, the state intervention intended to foster growth in the industry has yielded minimal success.
-
Azerbaijan and EIB Global, the European Investment Bank’s external branch, signed a Memorandum of Understanding (MoU) at the COP29 climate summit to modernize and expand the Baku metro network, officials said on Thursday.
Leave a review