Deputy Minister: Personal incomes to increase by 9% to AZN 54.4 billion next year

Baku. 8 November. REPORT.AZ/ ‘Social expenditures have not been decreased in the state budget for 2019. They have been increased. State budget for 2019 is socially oriented too’, Deputy Minister of Labor and Social Protection of Population Idris Isayev said at the discussion of draft law on ‘Budget of relevant executive body carrying out social security and social protection for 2019’ at the meeting of Parliament’s committee on Labor and Social policy.

The deputy minister noted that the number of hired workers in the ten months of 2018 made up 1,540,000, 3.3 million people were freelancers: "In the reporting period, revenues of the State Social Protection Fund amounted to AZN 3,187,000,000, up 9.7% in comparison to a year earlier."

Isayev noted that demographic indicators in Azerbaijan are positive, population is young, the people from the age of 15 to 64 make up 71% of the population: "People over 65 years old will be 6.3% next year. This is a very positive indicator. Able-bodied people are of great importance for us. The more able-bodied people we have, the tighter financial sustainability will be. Because social insurance fees depend on these people. The number of employed people will reach 5 million in 2019. Incomes will increase by 9% to AZN 54.4 billion. Average monthly salary will grow by 5.7% to AZN 642. Inflation is expected to be 3.8%. The number of pensioners will be 1,294,000’.