Baku. 11 February. REPORT.AZ/ Under the order of the President of Azerbaijan, Ilham Aliyev, the minimum wage will increase by 38.5 percent (50 AZN) to reach AZN 180 beginning March 1 this year. This will allow increasing the salaries to at least 600,000 employees working in state-funded organizations and the private sector, Report informs citing the Ministry of Labor and Social Protection of Population.
It was mentioned that this increase on the state budget-financed organizations will cover more than 450,000 workers that are paid on the Single Tariff Schedule (VTC).
According to the Ministry, at the same time, the minimum wage increase will lead to an increase in salaries of the people working in the private sector with wages less less than AZN 18 (according to preliminary estimates, at least 150,000). Under the new presidential decree, increasing the minimum wage will also allow to increase wages of at least 40% of paid employees.
State budget will allocate annual AZN 400 million,and additional funds of up to AZN 335 million will be allocated during 10 months (March-December 2019) to increase minimum wage.