In January of this year Azerbaijan State Statistics Committee estimated that income in terms of money grew on average by 5.3%.
According to the committee, the total income of the population was 2.3 bn AZN. Everyone in the country had an average of 246 AZN 10 kopecks. The income per capita grew by an average of 3.9%.
The Department of National Accounts of SSC told Turan, that the payment of income tax, social security contributions and other mandatory and voluntary payments to the population was 300 million manat. Thus, at the disposal of the population left 2 bn AZN. The bulk of these funds were designed to meet consumer needs.
Cost of living for 2013 was estimated by Parliament to be 116 manats. Independent public bodies estimate the figure at around 200 manats. At the same time, real wages in many sectors (education, health, culture, sports, etc.) are below. Experts believe that most of the income is concentrated in the hands of the oligarchy and the highest levels of government officials. - 08B-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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