The parliament discussed the income and expenses of the balanced budget of the State Social Protection Fund (SSPF) for 2015. According to forecasts of the Ministry of Finance, they amount to 3,056,285,700 manat (+ 4.37% to the forecast for this year).
More than a third (36% or AZN 1.1 bn) is planned to generate revenue structure by transfers from the state budget. Contributions to the SSPF under compulsory social insurance are projected at 1,950,221,900 manat, including social insurance of employees of budget organizations - 604 062 800 manat.
In the structure of expenses (2 989 179 600 manat) prevail payments to the population, including for pensions - 2,910,511,200 manat and on benefits - 78,668,400 manat.
Expenditure on the central administration and local SSPF is projected at 26.224 million manat.
Recall, income and expenses of the SSPF for 2014 are approved at 2,928,452,000 manat. --17D-
Economics
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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