Average monthly salary in Azerbaijan to grow by 5.7%

  08 November 2018    Read: 1005
Average monthly salary in Azerbaijan to grow by 5.7%

In 2019, income of the population of Azerbaijan will increase by nine percent, reaching 54.4 billion manats, which is a positive indicator, the Deputy Minister of Labor and Social Protection of the Population Idris Isayev said Nov. 8 at the meeting of the parliamentary committee on labor and social policy.

He said next year, the average monthly salary in the country will increase by 5.7 percent, reaching 642 manats. In 2019, the inflation is projected at 3.8 percent.

"The number of pensioners will amount to 1,294,000 people, of which 58.3 percent receive an old-age pension, 30.8 percent – pension for disability, 10.9 percent – pension for the loss of the breadwinner," Isayev said.

The deputy minister noted that social spending in the country will be increased and the next year’s state budget will have a social focus.

Isayev said that in ten months of the current year, the total number of employees in the country amounted to 1,540,000 people, 3.3 million people were self-employed.

"For the ten months of this year, the revenues of the State Social Protection Fund amounted to three billion 187 million manats, which compared to the same period last year means an increase of 9.7 percent," the deputy minister said.

He also stressed that the country has positive demographic indicators and 71 percent of the population are people aged 15-64, and the population over the age of 65 will account for 6.3 percent of total number of population next year.

"In 2019, the number of employed persons will reach five million people," Isayev said.

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