Are labor pensions increased?


July 6, Fineko/ Gimalay Mamishov, the chairman of the State Social Protection Fund, said that the proposals to increase labor pensions will be submitted by 2025.

He noted that the average monthly size of labor pensions for the next year is set at 345 manats, the average monthly size of labor pensions by age is 375, and the minimum size of labor pensions is not yet predicted.

Questions about what the minimum threshold of labor pensions may be for the next two years and can be serious growth in this direction were asked to the expert.

ABC.AZ reports that expert economist Natig Jafarli said that it is difficult to predict until 2025 such issues as the minimum wage in connection with pensions, scholarships.

"It is unknown in which direction inflation will develop. Will inflation increase or decrease until 2025, what will be the state of Azerbaijan's income, what will be the exchange rate of the manat? Without specific answers to these questions, it is difficult to calculate the parameters until 2025. Maybe serious inflationary processes will take place in Azerbaijan, or the exchange rate of the manat will change and the currency will depreciate. All this will lead to new calculation rules," Jafarli said.