As of November 1, revenue of the State Social Protection Fund ( SSPF) amounted to 2 billion 208 million manats at just less expense ( 2 billion 119 million manats ) .
According to the Fund, the positive difference revenues were 4%, or 89 million manat.
In the structure of the fund in January-October, most of that (1 billion 253 million manats with a year's increase of 12%) were receipts for contributions of employers for compulsory social insurance. Of these, 57 % was the share of the private sector.
Transfers from the state budget to the budget of State Social Protection Fund for the period totaled, as expected, 952 million manat, the remaining proceeds for other positions.
The payment of pensions and allowances was 98 % of the costs.
Recall, the income and expenses of SSPF for 2013 were approved at the level of 2 billion 632 million 695 thousand manats. -17D-
Economics
-
Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
-
The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
-
At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
-
This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
Leave a review