In 2016, income of the population in Azerbaijan amounted in nominal terms to 45 billion 395.1 million manat, increasing by 8.7%, the State Statistics Committee said.
Cash income per capita exceeded 4,700 manat (+ 7.5%) or 392.5 manat per month.
According to SSC, 76.3% of the revenue is directed to the final consumption, 8.4% - payment of taxes, insurance premiums and membership fees, and 2.9% - repayment of loans and interest on them. Citizens saved 12.4% of their income.
According to official statistics, there was growth of people’s income against the background of economic crisis, state budget cuts, the closure of jobs and so forth negative factors.
At the same time, inflation in Azerbaijan totaled 12.4% in 2016 (SSC). Thus, for the first time in many years, no real growth of the population’s incomes was noted. ---08B
Economics
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