The number of accounts insured in SSPF increased by almost 204,000 manat over the year
Individual accounts of social insurance in Azerbaijan by January 1, had 3.180.154 (+ 6.84% per year.) Today’s press release from the State Social Protection Fund (SSPF) reads that over the year the increase in absolute terms amounted to 203,836 units.
Most insured (59.2%, or 1,882,800 people) - men, 1.297.354 - women. More than a quarter (25.08%) of the insured in the fund - working between the ages of 30 to 40 years, 21.15% - at the age of 30, 21.14% - aged 50 to 60 years, 20.43% - aged 40 to 50 years, 12.2% - over the age of 60 years. Social Security Government passed to an individual account on January 1, 2006 in accordance with the law "On labor pensions". --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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