TODAY.AZ / Business

Basic pension to rise by 50 % by late 2007

20 September 2006 [09:23] - TODAY.AZ
State Social Protection Foundation has coordinated preliminary parameters of the budget for 2007.

Foundation chairman Salim Muslumov said basic pension is planned to be raised by 50 percent next year.

"That is it is planned to raise basic pension twice a year to reach AZN 60," he said.

He said the budget of the Foundation will grow by some AZN 300mn, APA reports.

"The budget will rise to AZN 920mn from 589mn. Social insurance fees to be collected will constitute bulk of the budget. AZN 90mn will be transferred from the state Budget. In general, the growth will form about AZN 333mn."

URL: http://www.today.az/news/business/30409.html

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