As of 7 May Azerbaijan had 2 million 530 thousand payers of compulsory social insurance.
According to the Chairman of the State Social Protection Fund (SSPF) Salim Muslimov, it's almost twice as much to January 1, 2006 (the beginning of the pension reform).
During this period the average pension amounted to 152 manat, the minimum pension (base part) - 85 manat, the pension calculation factor for age increased from 24.1 to 42.3%.
In addition, the percentage of compulsory insurance contributions reduced from 29 to 25%. It is planned reduction in the proportion of employers, which would increase their interest in social benefits, the head of the state fund said. - 17D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review