BAKU, Azerbaijan, June 18. A total of 2.69 billion manat ($1.58 billion) was allocated for pension payments in Azerbaijan from January through May 2024, up 14 percent (328 million manat or $192.9 million) year-on-year, Trend reports via the Ministry of Labor and Social Protection of Azerbaijan.
The ministry pointed out that as of January 1, 2024, all pensions were indexed by 11.2 percent in accordance with the annual growth rate of the average monthly salary for the previous year.
Over the past five months, 18,400 pensions have been assigned, and since the beginning of 2019, when electronic pension assignment was introduced, a total of 121,000 pensions have been assigned through the electronic system.
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