By the presidential decree of January 21, on 1 January 2017, the minimum wage increased from 105 to 116 manats. By another decree of Aliyev, from January 1, 2017 will be indexation of insurance part of labor pensions. Ministry of Labor and Social Welfare instructed to increase the insurance part of pensions of all types in accordance with the consumer price index for 2016; to carry out indexation of amounts of pension capital accumulated in the insurance part of personal accounts in personal accounting system. -02D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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