The insurance part of labor pensions in Azerbaijan increased by 1.4%. President Ilham Aliyev signed on January 26 on indexation of insurance part of labor pensions from the 1 January this year according to the consumer price index in 2014, which according to official figures totaled 1.4%.
Parallel to State Social Protection Fund (SSPF) will carry out indexation of the insurance part of pension capital accumulated in individual accounts of payers of insurance contributions.
Today at a briefing held in the SSPF the head of this organization Elman Mehdiyev, noted that today the increase of the insurance part of pensions 12 million manat will be required in 2105.
Experts estimate that the size of pensions will grow by an average of 65-100 gepiks.
In 2008-2012 NGO "Center for Economic Research" (CER) held an alternative count of the consumer price index, which, according to experts, forcing the State Statistics Committee to give a truthful information on the level of inflation. For example, the official inflation rate in 2010-2011 was announced at the level of, respectively, 5.7% and 7.9%. In 2012, the CER estimated the price growth at 9.9%. However, the government "could not keep up" with the CER, and announced a 1.1% inflation. In 2013, the official inflation rate was 2.4%.
In 2015, expenses for payments of pensions in Azerbaijan amounted to 2 billion 910,500,000 manat, of which 1 billion 370 million manat accounted for by the insurance part of pensions .-- 08B—
Economics
-
The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
-
Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
-
Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
-
Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
Leave a review