Baku residents enjoy wage growth

By Azernews

By Abdul Kerimkhanov

The annual salary of employees in Azerbaijan’s capital Baku increased 6.1 percent year-on-year in the period of January to September to reach 833.6 AZN ($490), Baku City Statistics Department has revealed.

In September alone, the average salary in Baku reached $560, which is 14.9 percent higher compared to August 2019 and 24.4 percent higher compared to September 2018.

Meanwhile, the average salaries across the country increased by 11.7 percent in January-September 2019, amounting to 603.5 manats ($355). In September, this figure increased by 21.6 percent (up to 723.4 manats or $425).

The most high-paid spheres of economy were in mining sector (3,013 manats or $1,772), financial and insurance sectors (1,648 manats or $970), scientific, technical and professional activities (1,150 manats or $676), as well as the information and communications sector (984 manats or $579).

The smallest average wages of employees are registered in agriculture - 342.7 manats ($201), healthcare and the provision of social services - 323 manats ($190), education - 412 manats ($242).

In 2019, the minimum wage was increased by 93 percent from 130 manats ($76) to 250 manats ($147). As a result of this two-stage increase, the minimum wage was first increased from 130 manats to 180 manats ($106) in accordance with the decree of the President signed on February 8, 2019.

Over the past 15 years, the average salary in the country has increased sevenfold, and the minimum wage, 6.5 times.

Under the law, it is forbidden to issue wages to employees below the minimum wage set by the state.

Social protection of the population, approximation of living standards to the standards of developed countries are among the top priorities of state policy pursued in Azerbaijan.