Labor productivity should be main indicator of Azerbaijan`s economic development

Photo: Labor productivity should be main indicator of Azerbaijan`s economic development / Economy news

Baku, Azerbaijan, June 27
By Emin Aliyev - Trend:

Labor productivity should be the main indicator of economic development of Azerbaijan.

The chairman of the Parliamentary Committee on Economic Policy, Ziyad Samadzadeh made the remarks during the presentation of the electronic information system of the employment contract notification.

"The theme of employment and the legality of work has been, is, and will be relevant. Our most important goal is to ensure harmony between the growth rates of population income and economic development," he said.

Labor productivity in the past has been one of the priority indicators of development, according to the MP.

"It should be recognized that today though, not so much attention is paid to this. It is necessary for the efficiency of labor of our citizens to become the main criteria for assessing economic growth once again," Samedzadeh said.

The low ratio of wages to GDP of the country is explained by the presence of illegal workers, according to the MP.

"The Ministry of Labor and Social Protection of the Population of the Azerbaijan as well as other government agencies involved in the implementation of e-registration of labor contracts, have done monumental work which will help to change the consciousness of society universally to introduce the practice of the legal registration of employees. Yes, it will be difficult - because every entrepreneur is interested in reducing their expenses. But at the same time, it should be understood that with the increasing number of legal workers, the fees for cumpolsary state social insurance, state budget revenues will grow - in these conditions, I am sure, the relevant legislation will change and the tax burden on entrepreneurs will be reduced for the sake of ensuring the competitiveness of their products. The state budget revenues will grow, but not at the expense of increasing the tax burden, and the number of taxpayers, " Samedzadeh said.

Edited by CN

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