The central treasury account of the State Social Protection Fund (SSPF) accumulated 30 million manat as provision for the payment of pensions and social benefits. All in all, by April 25, the May retirement pensions were transferred 174 million manat.
As noted in the sector of public relations fund, this information is intended to dispel public doubts. For example, some media reported a delay of pensions, but it is not true.
In fact, the question should be raised so - pensions are delayed, but not for the fault of the State Social Protection Fund. It turns out that the blame for the authorized banks (mainly IBA and Capital), which attracted the majority of recipients of pensions and social benefits. In remote areas at the beginning of the year there is a delay of 10 or more days, which for a citizen with an average benefit of 152 manat and retirement pensions of 168 manat is a very severe blow. - 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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