About half of the revenues of the state Social Protection Fund (SSPF) for January-March amounted to compulsory employer contributions to social insurance. Received a total of 685.1 million AZN 339.3 million or 49.53% were exactly at this position (127.9 million occurred in the budgetary organizations, 221.4 million - to the private sector). The remaining income (with a few exceptions) - transfers from the state budget.
The share of non-budgetary institutions was the most (62.3%) of the total compulsory social security revenues.
State Fund expenses in the first quarter amounted to 614.9 million manat. On payment of pensions aimed 592.2 million manat. Payments for benefits for various purposes were 13.3 million manats. For modernization, maintenance staff, operations and other expenses spent 9.4 million manat.
Recall that the state fund a balanced budget for 2013 was set at 2 billion 632 million 695 thousand manats. - 17D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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