Nominal income per capita in Azerbaijan in the first half of the year amounted to 1.708.800 manats (+5.7% compared to the same period of last year), which means to 284.8 manat per month .
According to the State Statistics Committee, real income per capita in the January-June 2013 amounted to 1.549.400 manats (also +5.7%), although last year they increased by 12.2%.
The SSC did not disclose the cost of population expenses. However, in January-May 2013, the population spent on goods and services 69.3% of its income (9 billion in total 3.8 million manat.) On payment of interest on loans (mainly consumer) spent 11.1% or 1.442.200 million manat, on accumulation and purchase of freely convertible currency - 19.6%, or 2.546.500 million manat.
Public expenses on servicing loans are increasing, more and more citizens are in debt, and the courts are full of claims about the alienation of the property because of non-returned loans. -17D-
Economics
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The 12th International Caspian Energy Forum commenced today in Baku, organized by the Caspian Energy Club in collaboration with Enermus, bringing together over 500 delegates from across the Caspian-Black Sea and Baltic regions.
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The World Bank has recommended that Azerbaijan cut subsidies in its water sector to enhance system sustainability and address the escalating issue of water scarcity, Stephanie Stollmeister, Manager of the World Bank Representative Office in Azerbaijan, reported.
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Last week, the Central Bank of Russia raised the interest rate from 18% to 19% annually. The decision to increase the rate was made against the backdrop of rising inflation expectations among the public and businesses.
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Azerbaijan’s Cabinet of Ministers has announced a detailed timeline for the mandatory transition of labor contracts to an electronic document format, in accordance with a decree issued by the President of Azerbaijan on June 28, 2024. The resolution, signed on September 17 by Prime Minister Ali Asadov, outlines phased implementation deadlines for different categories of employers, with the aim of modernizing labor documentation and improving efficiency.
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