Revenues to Azerbaijan’s Salary Fund exceed 34%

Finance Materials 8 November 2019 19:31 (UTC +04:00)

BAKU, Azerbaijan, Nov. 8

By Eldar Janashvili - Trend:

Since the beginning of the year, the growth in revenues to Azerbaijan’s Salary Fund has exceeded 34 percent, Trend reports Nov. 8 referring to the Azerbaijani Ministry of Labor and Social Protection of the Population.

This year, the volume of revenues to the Fund in a percentage ratio increases every month. At the same time, from January through May 2019, the range of monthly growth was 3-4 percent, and the average indicator was 3.5 percent.

From June through August, growth slowed to 1-1.2 percent monthly. In September, the monthly growth in revenues rose sharply and amounted to 8.6 percent, thereby overall growth increased to 29.6 percent from the beginning of the year.

In October, revenue growth fell to 4.6 percent.

The average salary is determined on the basis of the total salary fund.