The average per capita income in the first quarter (332.3 manat per month) was 4.6% behind the average of the previous year (348.4 manat), the State Statistics Committee said.
According to official figures, in the three months nominal income was at 996.8 manat, while real income was 901.5 manat. In absolute terms, the ratio was 9 billion 455,900,000 to 8 billion 552 million manat.
More than three quarters of revenues (75.7%, or $ 7 billion 158,100,000) was spent on public goods and services, 12.6%, or 1,191,400,000 - on the accumulation and purchase of freely convertible currency. In addition, 9.6% or 907.8 million was spent on the payment of taxes, duties, social and insurance fees, while the remaining 2.1% of revenue, or 198 600 000 manat was spent on interest payments on loans. --17D-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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