Since early year the State Social Security Fund has opened individual accounts for 315,512 insured citizens, up 12.2% against July 1, 2012.
A source from the Fund told Turan that at present total number of insured people reached 2,581,586, including retired people. Of them 58.6% are men and 41.4% are women with a positive dynamic of percentage growth of men (last year ratio was 56.2% against 43.8%)
23.5% of registered people are between 30 and 40 years old, 23.3% are older than 30 years, 22.8% - between 40 and 50 years, 20.5% - between 50 and 60 years and 9.8% - older than 60 years.—0--
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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