12:17 - 6.05.2022
May 6, Fineko/abc.az. "Over the past 4 years the minimum pension has been increased 2.2-fold up to 240 manats," ABC.AZ reports, citing Labor & Social Protection Minister Sahil Babayev.
He noted that today Azerbaijan has risen to the 1st place on the CIS area both on the index of nominal and purchasing power of the minimum pension.
"The average monthly pension increased by 75% to 363 manats, and the average monthly old-age pension by 70% to 394 manats. Over the past 4 years, benefits and pensions have increased 3- and 5-fold, respectively. In general, in 2018-2022, there was a 70% increase in annual social security spending," the minister said.
