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Baku/05.01.23/Turan: Raising the minimum wage in Azerbaijan to 345 manats is inadequate to the rate of inflation, Natig Jafarli, an economist, a member of the political committee of the Republican Alternative party, said in an interview with a Turan correspondent.
On the other hand, this increase will also entail an increase in mandatory payments to the State Social Protection Fund by about 800,000 people working under VÖEN (taxpayer identification code).
These payments are 25% of the minimum wage. And, for some types of activities, payments to the State Fund will amount to 50% of the minimum wage. The expert believes that payments to the State Fund should not be tied to the minimum wage. It should be noted that by today's order of the President, the minimum wage has been increased from 300 manats to 345 manats since January 1. ---16D---
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