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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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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