By Azernews

By Ayya Lmahamad

The implementation of the third package of social reforms continues in Azerbaijan, State Social Protection Fund Chairman Himalay Mamishov said at a press conference on the results of 2022, Azernews reports per Trend.

“As part of the ongoing reforms, there is an increase in the average monthly amount of labor pensions,” he said.

He noted that the old-age labor pension increased by 11 percent compared to 2021. He also stated that the minimum pension has been raised from AZN200 ($117.6) to AZN240 ($141.1), adding that this amendment will affect 40,000 people.

“The criteria of need in targeted assistance in Azerbaijan increased from AZN170 ($100) to AZN200 ($117.6), and covers 280,000 people,” he said.

Fund’s forecasts on income

Moreover, Himalay Mamishov stated that the fund’s total income is expected to amount to AZN5.7 billion ($3.3bn) in 2022, which is 10.6 percent more compared to 2021.

He added that the volume of revenue will increase by 5 percent compared to forecasts.

“Payments to the population on labor pensions for the current year amounted to AZN4.9 billion ($2.8bn), which is by 7.8 percent more than in 2021,” he said.

Lump sum payments to disabled war veterans

“Azerbaijan has paid lump sum payments to the persons who became disabled during military service in the first Karabakh war from 1991 to 1997,” he said.

The chairman pointed out that lump sum payments were made to 16,679 people.