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
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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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