BAKU, Azerbaijan, Sept.10
By Zeyni Jafarov - Trend:
Azerbaijan’s Finance Ministry has projected the volume of income, expenses, and the average monthly salary of the country’s population to grow by 2025, Trend reports citing the ministry.
According to the ministry’s forecasts, regulation of inflation in the medium term will contribute to this, which will have a positive impact on the indicators of social welfare of the population.
Thus, according to forecasts, inflation in Azerbaijan by 2025, having decreased by 1.7 percentage points compared to 2021, will amount to 3.2 percent, the ministry said.
“The volume of income of the population by the end of 2021 will increase by 3.1 billion manat as compared to 2020. So, the given figure will rise by 5.6 percent, from 55.7 to 58.8 billion manat (from $32.7 billion to $34.5 billion). By 2025, the population’s income will increase by 18.5 billion manat ($10.8 billion), or 31.5 percent, up to 77.3 billion manat ($45.4 billion), compared to the current year,” according to the forecast of the ministry.
Expenditures of the population by 2025, has increased, according to forecasts, by 16.8 billion manat ($9.88 billion), or 31.7 percent compared to the current year, will grow from 53 billion manat to 69.8 billion manat (from $31.1 billion to $41 billion).
Along with this, in Azerbaijan, during 2021-2025 the average monthly salary will increase by 192.2 manat ($113.3) or 26 percent, from 742.8 to 935 manat (from $436 to $555).
Below is a table of the projected level of income, expenses and average monthly salary of Azerbaijan’s population in 2021-2025:
|
Year |
Income of the population |
Expenses of the population (%) |
Average monthly salary |
|
2021 |
58.8 billion manat ($32.7 billion) |
53 billion manat ($3.11 billion) |
742.8 manat ($436) |
|
2022 |
63.4 billion manat ($37.3 billion) |
57.2 billion manat ($33.6 billion) |
794.5 manat ($467.3) |
|
2023 |
68.2 billion manat ($40.1 billion) |
61.6 billion manat ($36.2 billion) |
838.3 manat ($493.1) |
|
2024 |
72.7 billion manat ($42.7 billion) |
65.7 billion manat ($38.6 billion) |
883.8 manat ($519) |
|
2025 |
77.3 billion manat |
69.8 billion manat ($41 billion) |
935 manat ($555) |
Over the first 7 months of this year, the income of the population of Azerbaijan increased by 176.2 million manat ($103.6 million), or 0.6 percent (from 32.145 to 32.3 billion manat) compared to the same period of last year. The average monthly salary in the country for the same period increased from 720 to 724.4 manat ($423.5 to $426.1). An annual growth rate was 4.4 manat ($2.58) or 0.6 percent.
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