State Social Protection Fund (SSPF) has decided to pay the money taken nine years ago at the World Bank.
The Bank in June 2004 approved a loan for Azerbaijan in the amount of $ 10 million for the project "Support to the reform of the pension system and the system of targeted social assistance." The loan is designed for 35 years, the first 10 of which are a grace period at the rate of 0.75% per year.
As Turan reported from the Fund, from January next year there will begin repayment of principal amount of the loan - 231 thousand manats for the entire year. Difficulties would not arise as the means are included into the balanced budget of SSPF.
The project consists of two components, each of which is equal to $ 5 million. The first part, the beneficiary of which is the SSPF, provides support for the reform of the pension system, coupled with the introduction of individual registration of social insurance. The second part (the beneficiary - the Ministry of Labor and Social Welfare) is to improve the system of targeted social assistance. - 17D-
Economics
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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