The calculation of March pensions for the population will be completed by 15 March.
According to the State Social Protection Fund (SSPF), there has already begun the necessary transfer of pension funds to individual regions and cities to the accounts of local branches of SSPF to finance pensions for March. "The process at the national level will be fully completed until mid-March, and pensions will be transferred to the personal accounts of pensioners on the previously established schedule," the report says.
According to the State Fund, currently the number of labor pensioners in Azerbaijan is 1 290 882 people, of which 60.8% receive old-age pensions, 28.3% - on disability, 10.9% - on the lost of the breadwinner. --17D-
Economics
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Azerbaijan’s oil and condensate production and exports saw a marked decrease during the period from January to September 2024, continuing a downward trend compared to previous years.
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Investments in fixed assets in Azerbaijan totaled 12.7 billion manats ($7.5 billion) in the first nine months of 2024, down 3.9 percent compared to the same period last year, the State Statistics Committee said on Monday. Investment in the oil and gas sector fell by 8.4 percent, while investment in the non-oil and gas sector dropped by 1.6 percent.
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Industrial production in Azerbaijan rose by 1.3% year-on-year in the first nine months of 2024, reaching 47.8 billion manats ($28.2 billion), the State Statistics Committee reported on Monday. The growth was driven by a 0.6% increase in the oil and gas sector and an 8.7% rise in the non-oil and gas sector.
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As of September 2024, the labor market in Azerbaijan has demonstrated active activity, total employment has reached 1,754.9 thousand people. The labor force is almost equally divided between the state and non-state sectors, which employ 878.3 thousand and 876.6 thousand people, respectively, according to the State Statistics Committee.
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