
In terms of average salary Azerbaijan is behind Georgia and Armenia - ILO
According to the International Labor Organization, the average salary in Azerbaijan is one of the lowest among the 71 countries for which data are available.
According to material published on the website InvestorSsholl.ru, the highest average wage in Luxembourg is 3,722 dollars a month.
Azerbaijan ranks one of the last on the average salary of $303, and is behind poor Georgia and Armenia, which rank 55th and 57th respectively with the index and $430and $404.
Azerbaijan’s index was below of many African and Asian countries, not to mention the poor European countries - Bulgaria, Bosnia and others. The worst situation is in the Republic of Moldova, Mongolia, Tajikistan, Kyrgyzstan and Syria. -02D-
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- Economics
- 1 December 2016 13:55
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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