Azerbaijani private sector salary fund grows – minister

Mon 14 Oct 2019 08:18 GMT | 12:18 Local Time

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Thanks to measures aimed at curbing informal employment, as of Oct. 1, 2019, the number of employment contracts in Azerbaijan’s private sector increased by 16.5 percent, reaching 90,962 compared to the same period last year, and the salary fund increased by 33.4 percent, Azerbaijani Minister of Labor and Social Protection of the Population Sahil Babayev said, Trend reports.

He made the remarks at the 32nd meeting of the Advisory Council on Labor, Employment and Social Protection of the Population of the CIS Member States.

The minister said that raising the minimum salary by 93 percent, the minimum pension by 72 percent, increasing average social benefits and pensions twice, the establishment of two new types of pensions and other measures provided significant social support to the well-being of more than 4.2 million people.

Babayev noted that by the end of 2019, there are plans to open two more Centers for Sustainable and Operational Social Security (DOST), and in 2025 their number in Azerbaijan will reach 31, adding that also by the end of October, the “Employment” subsystem will be commissioned.

The minister reminded that from January 1, 2019, electronic appointment of pensions began in Azerbaijan, and so far, pensions have been assigned to over 14,000 people online.

Babayev also said that the coverage of the self-employment program in Azerbaijan last year increased by more than six times, and in 2019, based on this program, there are plans to create 10,000 small households and small enterprises.

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