Entire Population of Azerbaijan Earned 10.3 Billion Manat in Q1

According to the quarterly data of the State Statistics Committee of Azerbaijan, the nominal income of the population amounted to 10 billion 303.5 million manat (+ 9% to April 1 of the previous year).

This statistics recognizes that the average annual inflation rate from January to April was at 10.8%. Given the fact that on February 21 and December 21 the Azerbaijani national currency slipped by 100% against the US dollar, the real inflation rate for all types of goods and services amounted to 40%, while the prices of imported goods almost doubled.

Statistics says that by April 1, the nominal income per capita was 1,073 manat (AZN 357.7 a month). According to experts, the method of averaging the income of the population is wrong, because the incomes of oligarchs and low-income people living on social benefits or pensions are equalized. --17D-

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