In 2017, Priority Will Be to Increase Salaries of Judicial and Law Enforcement Authorities
The draft state budget has provided an increase in wages of employees of budgetary institutions in the amount of 245 million manat. Total payroll budget organizations will be 4 billion 77 million manat in 2017.
Most of all the increase in salaries will regard employees of the judicial system and law enforcement agencies. This year, their salaries were planned at the level of 740 million manat. In 2017, they will be paid 74 million AZN more.
Payroll of the educators will grow by 18 million AZN and reach 1 billion 247 million manat in 2017. It is noteworthy that the wages of health care workers will decrease from 396 million to 386 million manat. Under the heading "social protection" it is provided 8 million manat less than in 2016 (1 billion 974 million AZN).
The economist Rovshan Agayev believes that after the AZN devaluation in 2015 consumer spending in Azerbaijan increased by at least 40-45%. The government raised wages for employees of enterprises and organizations financed from the state budget by 10% in 2015,
In the state budgetary organizations mid-level employees receive not more than 450 manat (263 US dollar) a month. -08D
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review