
Signed General Collective Agreement
Baku / 12.02.18 / Turan: The government and the associations of workers and employers signed the next two-year tripartite General Collective Agreement on February 7. As in the previous ones, it does not contain concrete obligations of the parties to improve the macroeconomic situation in the country, the business environment, working conditions, etc.
The Cabinet of Ministers, the Confederation of Trade Unions and the National Confederation of Employers agreed positions and agreed on joint activities on social, economic and labor relations in 2018-2019. It is noteworthy that the parties have never publicly discussed the details of this agreement.
As in the previous collective agreement signed on April 16, 2016, which was signed in the conditions of the crisis, economic policy is assessed as "successful". "Reforms in the country are aimed at accelerating the development of the non-oil sector and the regions of the country, a tangible reduction in the level of poverty and unemployment, ensuring employment and social protection of the population," the document says.
In the promulgated text of the agreement http://xalqqazeti.com/az/news/desicions/97004 there is no information about the forecasts for the nominal average monthly wage and its real growth in the next two years, the consumer price index, the specific weight of wages in GDP, the amount of money spent on food from the family budget, unemployment rates, etc. -----08D--
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- Question-answer
- 12 February 2018 12:44
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- Finance
- 12 February 2018 13:58
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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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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