Over six months of the year more than half of the revenues of the state Social Protection Fund (SSPF) totaled compulsory employer contributions for social insurance need.
Of the received a total of 1 billion 306.6 million manat (+ 34.2 million compared to July 1 last year) 723.8 million or 55.4% were exactly for this position (261 million for the budget organization, 462.8 million for the private sector.) The remaining income (with a few exceptions are transfers from the state budget.)
State Fund expenses before June 1 totaled 1 billion 241.9 million manats. On the payment of pensions and allowances were directed 1 billion 219 million manat (pensions - 1 billion 190.6 million manat, payments on benefits for various purposes - 28.4 million manat.)
Thus, the achieved current budget surplus of the State Fund is 64.7 million manat.
The deficit-free budget of the State Fund for 2013 was set at 2 billion 632 million 695 thousand manat. --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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