Salary of about 50% of builders in Azerbaijan are cut
In 2016, the employees of the construction sector, involved in the private local companies; an average of 389 manats and 10 gepiks per month, which is by 7.4% less than in the previous year, the State Statistics Committee told Turan. This is despite the fact that consumer prices rose by an average of 12.4% in the country. The average number of employees of private local companies in 2016 amounted to over 45.000 people. The number of employees decreased by 4.2%. In December, in the private sector were employed 39.800 people. According to the SSC, the average monthly wage in the construction sector in 2016 amounted to 811 manat 90 gepiks. This is by 20.4% more than in 2015. Wage growth in construction was mainly due to companies with foreign capital, which employ 24.900 people (2016). They were credited past year, on average 1781 manats gepiks 60 per month, and by 41.2% more than in the previous year. The number of construction workers in state-owned companies in 2016 remained virtually unchanged, and amounted to 25.600 people. They were given a month on average 525.4 manat (including taxes and social contributions). In 2016 the average number of construction sector in Azerbaijan amounted to 95.6 thousand. (-2.6%). 08B
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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