The Cabinet of Ministers on 3 February adopted a resolution, according to which the minimum size of unemployment benefit increased from 55 to 75 manats a month.
Last time the size of the benefit was revised in June 2004.
This allowance will also be provided to citizens undergoing retraining and advanced training course on the direction of the State Employment Service of the Ministry of Labor and Social Protection of Population.
The government's decision comes into force on February 1 of this year.
According to the State Statistics Committee, as of January 1, there were 28,887 people recognized as unemployed in Azerbaijan. Of these, only 1,543 people receive benefits. How many of them receive unemployment benefits at the minimum rate is not reported.
Note that even before the second wave of devaluation of the manat (21 December), the size of the subsistence minimum in Azerbaijan was set at 136 manats. Thus, the unemployed receive an amount that does not meet their minimum needs. ---08B
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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