• $ 1.7
  • € 1.7517
  • ₽ 1.7594
  • ₺ 0.0472
  • £ 2.1013

Minister: Salaries, pension growth in Azerbaijan won’t affect inflation

Minister: Salaries, pension growth in Azerbaijan won’t affect inflation
29.05.2020 00:11
Analysis of the dynamics of expenditures related to the increase in the minimum salary and salaries of persons working in various fields shows that no serious impact on inflation is expected, Azerbaijani Minister of Labor and Social Protection of the Population Sahil Babayev said, Trend reports June 20.

The minister explained that the expenses are covered by the growth of revenues to the state budget, and in comparison with GDP and retail trade turnover, their share is rather small.

"The minister of finance said that a serious impact on inflation isn’t expected and the issue will be under control,” the ministry said.

"Since March of this year the minimum salaries have been raised. Despite that three months have passed, the inflation rate in Azerbaijan is 2.5 percent. This is proof that there is no serious inflation. But, in any case, this issue is under control, as required by macroeconomic policies.”

www.anews.az
Similar news
Similar news
Undersecretary of State: Poland, Azerbaijan eye to improve market access conditions for entrepreneurs (Exclusive)
Business 12:18
Undersecretary of State: Poland, Azerbaijan eye to improve market access conditions for entrepreneurs (Exclusive)
Azerbaijani currency rates for July 12
Business 12:12
Azerbaijani currency rates for July 12
Petrofac and SOCAR JV secures engineering and technical services contract in Azerbaijan
Business 12:04
Petrofac and SOCAR JV secures engineering and technical services contract in Azerbaijan
Raiffeisen Bank to ensure foreign investors’ access to Azerbaijan's securities market
Business 11:35
Raiffeisen Bank to ensure foreign investors’ access to Azerbaijan's securities market
Azerbaijani currency rates for Sept. 4
Business 11:34
Azerbaijani currency rates for Sept. 4
AZN Currencies
Business 11:33
AZN Currencies
Oil prices recover some ground, but economic concerns weigh
Business 11:28
Oil prices recover some ground, but economic concerns weigh
EIB reveals amount of lending commitment to Azerbaijan since 2014
Business 11:25
EIB reveals amount of lending commitment to Azerbaijan since 2014
Gold, platinum prices up in Azerbaijan
Business 11:24
Gold, platinum prices up in Azerbaijan
Anews TV

Our official Youtube channel

Subscribe