Azernews.Az

By Nazrin Gadimova

The draft laws "On the cost of living" and "On the level of need criteria" for 2014 were proposed for discussion at the plenary session of Azerbaijan's parliament during a meeting of the parliamentary committee on social policy on October 30.

According to one of the bills, the cost of living in the country will increase from 116 to 125 manats (around $160) in 2014. For the working-age population it will be 136 manats -- compared to 125 manats in 2013, and up to 103 manats for children and retired people, compared to 93 manats and 94 manats accordingly.

The draft law "On the level of need criteria" envisions an increase of the criterion for setting targeted social assistance up to 100 manats.

In 2014, the social spending of the state budget is predicted at 5.3 billion manats, increasing by 5.9 percent, or 298.9 million manats, compared to the forecast figures of the current year, and at 597.1 million manats or by 12.6 percent compared to the indicators in 2012.

The state budget also provides for financial assistance by increasing salaries and allowances.

According to the projections, 15.1 percent of the social expenditure, or 3.03 billion manats, will account for wages, while 9.1 percent, or 1.82 billion manats, for pensions and social allowances, 1.5 percent, or 305.3 million manats, for the purchase of food, 0.9 percent, or 176.9 million manats, for medicine and bandages.

The official exchange rate on October 31 is 0.7834 AZN/USD.