11:22 - 16.01.2024

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January 16, Fineko/abc.az. Pensions will be indexed and increased from January in accordance with the percentage of growth recorded in the amount of the average monthly salary for 2023, ABC.AZ reports, quoting MP Vugar Bayramov.

He added that according to official information published today by the State Statistics Committee, the average monthly nominal salary for Jan-Nov 2023 increased by 11.2% versus Jan-Nov 2022 and reached 923.1 manats:

"That is, for Jan-Nov 2023, the average monthly salary grew by 11.2%. And the State Social Protection Fund predicts the indexation of pensions by 10.8%. This means that the Fund expects exactly such an increase in the average monthly salary in 2023. At that, the indexation, that is, the increase in pensions, is adjusted for the percentage increase in the average monthly salary for the previous year. In the 2nd half of 2023, the official average monthly wage growth was more than 11% per month. In addition, the final figure will be announced early next month. Then there will be an increase in pensions corresponding to the percentage of annual growth in the average monthly salary."