The State Social Protection Fund (SSPF) of Azerbaijan in January-August this year, received income of 1 billion 624.6 million manat - 287.1 million (21.5%) more than the same time last year. The expenses amounted to 1,602.6 million manat.
According to the press service of the State Social Protection Fund, the one-month budget surplus of the Fund reached AZN 22 million (in the first quarter it was AZN 82 million).
The social insurance contributions received made up 891.9 million manat (15.2%), which also included contributions from non-budgetary sector (536.9 million manat).
Most of the costs of SSPF were on pensions - 1,571.8 million manat. -17D-
Economics
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The first Russian-Iranian joint LNG plant is planned to be built in the Chelyabinsk region by 2027, as reported by Nikolai Isakov, Vice President and Executive Director of the Russian Gas Society. The joint venture will be developed by Kriogaz Chelyabinsk (Russia) and North-South Corridor Development Group (Iran).
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The Southern Gas Corridor (SGC) will expand by at least 1.2 billion cubic meters per year starting from January 2026, thanks to the capacity increase of its European segment, the Trans Adriatic Pipeline (TAP). By this time, the potential for transporting a blend of hydrogen with other low-carbon gases through TAP is expected to become clearer.
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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