Baku/19.04.19/Turan: In the first quarter of this year, the nominal income of the population of Azerbaijan amounted to about 12.6 billion manat (7.4 billion manat). Over the past three years, this figure increased by 2.3 billion manat, according to the State Statistics Committee.
According to official data, compared with the same period of 2018, incomes of the population increased by 5.5%. Cash income per capita in the first three months amounted to an average of 1,275 AZN 70 gapik ($ 750.4). In January-March 2016, per capita income increased by 202 manat.
Officially, consumer prices in Azerbaijan rose in the first quarter at an annualized rate of 2.1%. Thus, the real income growth of the population was 3.4%.
Since January 1, due to changes in the system of taxation of individuals for the private sector, the wage bill has increased. And from March 1, the government raised the size of the minimum wage, retirement pensions and social benefits, which also affected the growth of household income.--0-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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