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
-
Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
-
U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
-
Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
Leave a review