Azerbaijani Social Fund's assets ups 25 percent
Azerbaijan, Baku, May 4 / Trend , U.Ismayilova/
Assets of the Azerbaijan State Social Protection Fund increased 25.9 times from 2003-2009, head of the social fund Salim Muslimov said on May 4.
"The fund's assets made up 4.24 million manat in 2003 and 109.84 million - early 2009," Muslimov said.
Muslimov said difference of the fund's assets was 105.6 million manat in this period.
In this period, number of the fund's used administrative buildings increased by 52 units to the current 62 buildings, as well as number of the used computers as part of the computerized management system - by 2,240 units - to 2,400.
In this period, the fund's revenues increased 5.7 times to 1.76 million manat compared to 306,600 manats in 2003. Incomes from obligatory social insurance increased 7.06 times to 1.27 million manat, transfers to public budget - by 369,000 manat to 494,400 manat and part of transfers decreased by 12 percent. The fund's expenses increased 5.7 times to 1.76 million manat compared to 306,600 manat in 2003 and expenses on financing pensions -9.7 times and made up 1.65 million manat.
Some 82.8 percent of the Azerbaijani pension system has been computerized. Only 1.056 million pensioners receive benefits via plastic cards in Azerbaijan. Number of pensioners is 1.275 million people in Azerbaijan.
On May 4, the official exchange rate is 0.8034 manat to $1.
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