Pre-reform experience of pensioners will be reflected on the website of the "electronic government"
From July 1, pensions and retirement benefits will be fully automated. As the Chairman of the State Social Protection Fund (SSPF) Salim Muslimov said at the meeting with the Caspian Business Club Integrating Europe, it will be possible thanks to the accumulation of data on the basis of pre-reform fund (up to 1 January 2006), the working experience of all pensioners - payers of compulsory insurance.
The data on the experience of those who retired before January 1, 2006, will be reflected on the page "information for the insured" in the column of e-services fund online "e-government". - 17D-
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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