MINIMUM SALARY UPS 8-FOLD IN AZERBAIJAN
Minimum pensions and salaries in Azerbaijan have rises 8-fold and 4-fold respectively over the past five years, said State Social Protection Fund chairman Salim Muslumov. The Fund`s payments to the population increased 4.6 times to 1,349,000,000 manats.
“This solid foundation provides a reliable basis for next year`s development. Successful execution of the 2009 budget of the State Social Protection Fund will make an important contribution to implementation of President Ilham Aliyev`s supreme policy aimed at the human factor and improvement of people`s welfare,” Muslumov stressed.
To determine the minimum pension for the next year, it is necessary to know the next year`s inflation rate.
“I find it difficult to say anything about it. Today, it takes some time to study the ongoing processes in the global economy and make any forecast. We expect deflation in the first half of the year,” said Muslumov.
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