Today, the number of able-bodied citizens that provide funds for compulsory social insurance has reached 2 million 581 thousand people. It is 2 times more than in 2003 - said in an interview with the official website Yeni Azerbaijan the chairman of the State Social Protection Fund (SSPF) Salim Muslimov.
According to him, over the past 10 years, the basic part of labor pensions has increased by 7.1 times - up to AZN 100, the average pension reached 170 manat (an increase of 9.2 times). Above the poverty line (the average cost of living is 116 manat, for pensioners - 94 manat) 97 % of the local retirees live - said the senior official.
According to him, over the past 10 years, SSPF revenues increased 7 times. He added that among the CIS countries, Azerbaijan currently ranks third in terms of the basic part of the pension. " In Azerbaijan , the figure is $ 128, in Kazakhstan - $ 185 , in Belarus - $ 129, in the Russian Federation - $ 109.3, in Ukraine - $ 111.8, and in Armenia - $ 31.7 ," he said. - 17D-
Economics
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According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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