Azerbaijan posts increase in labor contracts over past three years

The number of labor contracts concluded in Azerbaijan increased by 294,700 units compared to the beginning of 2019 and reached 1,696,600 as of July 1 of this year.

Report informs citing the State Tax Service under the Ministry of Economy that this is the result of measures aimed at formalizing workplaces, "whitening" the salary fund and ensuring transparency. The incentive-based tax policy implemented for more than 3 years has led to significant changes in the labor market.

In the private section of the non-oil sector, the same indicator increased by 255,800 units to 795,700.