The poor in Azerbaijan next year will receive 5 manats or 3.7% more than this year. The working population will receive 6 manats (4.1%) more, pensioners - 7 manats (+ 6.1%) more, and children - 9 manats (+ 7.7%) more.
Yesterday the country's President approved the Law "On Living Wage for 2016", which is set at 136 manats, for able-bodied population - AZN 146, for pensioners - AZN 115, and for children - AZN 117. The law enters into force the first of January.
According to experts, this is an extremely small increase, given the fact that only consumer inflation tied to the February devaluation was (according to the Central Bank of Azerbaijan on November 1) 7.8%, and according to Turan and a modern methodology of calculation - 19 2%. Recall, virtually all non-food products for the needs of the population are imported and the manat to the US dollar fell by 34%. Imported food products as well as products of leading manufacturers, in particular, Azersun Holding, rose in prices. It provides 60% of packaged and canned goods. --17D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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