If you perform calculations on the normal indicators, the cost of living has to be two times higher than the current one, the economist Natig Jafarli said.
He noted that the current system of living wage calculations is outdated, as the indicators remained from Soviet times.
"Indicators do not change and the figures are political, not economic. If the cost of living is twice higher than the current one, the government will need to respond by increasing the minimum pension and the minimum wage," he said.
The living wage for 2017 is set at 155 manat, for able-bodied population - 164.5 manat, for pensioners - 130.2 manat, and for children - 136.6 manat.
Note that the cost of living is determined by calculating the total cost of the minimum consumer basket and mandatory fees. ------71D
Economics
-
Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
-
The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
-
In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
-
Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
Leave a review