Average citizen of Azerbaijan since the beginning of the year had an income in 1108 manats
Within four months of this year, the per capita income in Azerbaijan made AZN 1,108.7, an increase compared to the same period last year by 4.9%. Experts believe that these averages do not reflect the real picture of the living standards of the population.
According to the chairman of Great Establishment Party, a member of the Milli Majlis Fazil Mustafa, in Azerbaijan there is no middle class, because there is no system of protection of the rights and freedoms of citizens. "About 10% of the population lives in prosperity and all the benefits covered. About a third of the population has average incomes, but is at risk at any moment to lose them, as the monopolization of markets, lack of fair competition may deprive them of a stable source of income. And 60% of the population - are poor or living below the poverty line," said the MP.
According to official data, the average monthly wage of workers employed (1,470 thousand) in Azerbaijan exceeds 400 manat. Every family in Azerbaijan is the average from4-5 people. According to the government, the level of poverty in the country since the beginning of 2000 dropped from 49% to 6%. The level of the middle class is not measured. - 08D -
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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