Average monthly pension to soar 4% in Azerbaijan

Baku. 3 November. REPORT.AZ/ Average monthly pension in Azerbaijan is projected to reach 216.5 AZN in 2018.

This is 7.6 AZN or 3.6% more compared to the forecast of 2017 and 24.3 AZN or 12.6% more than the actual figure for 2016.

Report informs referring to the 2018 state budget draft.

Also, next year, living minimum wage for pensioners is 144.0 AZN, which is 13.8 AZN or 10.6 percent more than the anticipated outcome of 2017, which means 21 AZN or 17.0% increase compared to the actual figure of 2016.

According to the project, the labor pensioners are expected to be 1 304.1 thousand at the end of 2018. It is expected that by the end of 2017 this figure will be 1 311.0 thsd people.

It is projected that inflation will be 6.1% in 2018, 4.3% in 2019, and 3.1% in 2020 and 2021. This figure is expected to be 13.2% in 2017.