(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 26. Four packages ofsocial reforms have been implemented in Azerbaijan over the pastfive years, Labor and Social Protection Minister Sahil Babayev saidduring the conference on the new period of Azerbaijan'ssocio-economic development, Trend reports.
“Within the framework of successes accomplished over the lastfive years, it is worth noting that the country's minimum salaryhas climbed 2.8 times, as has the labor remuneration fund. In otherwords, increasing the country's labor recompense fund by nearlythree times and raising the minimum salary by 2.8 times in a shortamount of time (five years) is an outstanding feat. And this growthdynamic is the primary focus of labor market regulation, as well asproviding more good work for our population. In terms of theMinistry's current key priorities, I would like to highlight theincrease in the quantity and diversity of corporate socialresponsibility programs and projects, as well as the futureextension of projects,” he said.
To note, the average monthly nominal salary of hired workers inAzerbaijan from January through February 2024 increased by 10.8percent compared to the same period last year and amounted to 946.8manat ($556.6).
Wages in the oil and gas sector amounted to 3,438 manat ($2,021)and in the non-oil and gas sector - 899.7 manat ($528.9). Salariesof employees of state-owned enterprises amounted to 901.8 manat($530.1) and private enterprises - 996.5 manat ($585.7).
According to the data of the ministry, the highest wages wererecorded for workers in the mining sector, insurance and finance,information, and communications, as well as in the field ofscientific and technical activities.
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