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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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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