More than 5,000 working places are legalized with the help of the Ministry of Labor
During the control measures in the labor market to eliminate illegal employment, the Ministry of Labor and Social Protection (MLSP) identified in the first half of this year, more than 5,000 workers, with which labor relations were not established.
The press service of the MLSP does not contain the information about financial sanctions applied against employers. Under the law, for each illegal worker the employer shall pay a fine of 1,000 manat. In addition, in respect of the legal person in this case a fine of 25,000 manats is applied.
As for the protection of the interests of workers, in the first half of this year, the Ministry of Labor paid them more than 355 thousand manats of the delayed wages and other payments. --08D-
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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