Average monthly pension in Azerbaijan grew by 60%


April 13, Fineko/abc.az. In 2018-2020, Azerbaijan's pension expenditures increased by 36% up to AZN 4.5 bn, ABC.AZ reports with reference to the 3-year report published by the Ministry of Labor & Social Protection.

According to the document, for the reporting period the benefits in the country grew 2.2-fold up to AZN 613 million and scholarships 3.5-fold up to AZN 326 million.

Besides, over the past 3 years the average monthly pension in Azerbaijan has increased by 60% and reached 330 manats. In particular, the average monthly pension due to age increased by 54% up to 361 manats, disability - by 66% up to 290 manats, loss of breadwinner by 63% up to 267 manats. Over the same period, the minimum pension grew by 82% and reached 200 manats.

At the end of the reporting term the subsistence minimum in the country was 190 manats and the need criterion 160 manats, which means an increase of 23% and 38%, respectively.