By Trend

Pensions will be indexed and increased by 11.4 percent in Azerbaijan in accordance with the annual growth rate of the average monthly nominal wage in 2020, director of the State Social Protection Fund under the Azerbaijani Ministry of Labor and Social Protection of the Population Himalay Mamishov said.

Mamishov made the remark at the press-conference, Trend reports on Feb. 5.

“The successful social policy of Azerbaijani President Ilham Aliyev determines consistent steps to ensure the well-being of citizens,” the director added.

“Some 5.7 billion manat ($3.3 billion) were spent on pensions, presidential pensions and benefits, targeted social assistance in 2020, which is by 20 percent or one billion manat ($58.8 million) more than in the previous year,” Mamishov added.

“Azerbaijan keeps the leadership among the CIS countries in terms of the purchasing power index of minimum and average pensions,” the director added.