In the first quarter of this year, the average monthly wage in the private construction companies in Azerbaijan exceeded 640 manat. In this case, wages in these companies has decreased by an average of 1.6%, the State Statistics Committee told Turan.
However, the private sector pays more than the builders in the state construction companies (484.3 manats per month, 12.2%).
The average monthly salary in Azerbaijan builders in the first quarter amounted to 588.7 manat, which is 5.1% more, year on year.
As of 1st April, construction companies there were 91.3 million employed persons. This is 15.4% more than the year before.
The construction sector is one of the sectors exposed to the risk of violations of labor and tax laws. Despite the measures taken, construction companies to avoid taxes and social security contributions hide the actual number of employees and salary. --- 08D
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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