Azerbaijani Government expected to discuss increase of pension basis in the second half of the year

Azerbaijani Government expected to discuss increase of pension basis in the second half of the year
# 04 May 2009 12:38 (UTC +04:00)
Baku. Ilhama Isabalayeva – APA. The Government of Azerbaijan is expected to discuss the increasing of pension basis in the second half of the year, Chairman of the State Social Protection Fund Selim Muslumov told APA. He said the pensions would not be reduced even if inflation was replaced with deflation. “The law reads that the pension basis should be increased at least once a year not less that inflation rate. We are holding discussions still and probably the issue of increasing the pension basis will be reviewed in the second half of the year”.

Muslumov said the global crisis effected on price reduction and it created conditions for drop of inflation rate. “Our budget prognosis is enough founded and balanced. We have 112 million AZN of unused remainder from the last year. 37 million of these resources are not ours, but other part is enough for the funding of pension basis. The issue will be discussed by the government in details and final decision will be made”.
#
#

THE OPERATION IS BEING PERFORMED