In Azerbaijan, the number of labor pensioners reached 1 million 271 thousand 210 people (13.5% of the population).
According to the State Social Protection Fund (SSPF), 63.1% of them retired by age, 26.5% on disability, and 10.4% due to the loss of a breadwinner. About two-thirds of the labor pensioners (60.7%) are women.
The average retirement pension is 151.19 manat and the average old-age pension is 167.54 manat.
With few exceptions (97%) standard pensions reached the level of the minimum wage. The average pension in Azerbaijan is 40% and the pension age is 45% of the average wage, says the press-service of the SSPF. - 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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