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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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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