More than half of the revenues of the state Social Protection Fund (SSPF) in January-April amounted to compulsory employer contributions to social insurance. Received a total of 874.6 million AZN 463.8 million or 53.03% were exactly at this position (167.9 million occurred in the budgetary organizations, 295.9 million - to the private sector). The remaining income (with a few exceptions) - transfers from the state budget.
The share of non-budgetary institutions was the most (63.8%) of the total compulsory social security revenues.
State Fund expenses in the first quarter amounted to 821.9 million manat. On payment of pensions aimed 789.5 million manat. Payments for benefits for various purposes amounted to 18.7 million manat.
Recall that the state fund a balanced budget for 2013 was set at 2 billion 632 million 695 thousand manats. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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