IN 2006 LIFE IN AZERBAIJAN WILL BECOME EXPENSIVE, RESIDENTS RICH

Two months have been left till the beginning of the 2006, while the population of the country is concerned financial state in the year to come. Analyzing a sheet of incomes and expenses of population designed by the government for subsequent 3 years, we can foretell that Azerbaijani population will have big incomes in 2006, which will result in rise of living conditions and poverty reduction in the country.

In accordance with the a forecast sheet of incomes and expenses of population designed by the government, in 2006 the aggregate amount of money incomes of the Azerbaijani population will constitute 45.7trln manats, or 9138m denominated manats, of 26.35% more than the incomes calculated for end year (36.16trln manats). Per capita incomes comprise 5469,200 manats, or 1093.8 AZN, which is twice up as compared to 2004. The incomes are unequally distributed in society, so someone will have more, someone less. For more detail scene of distribution of incomes and beneficiaries let’s study the structure of community incomes.

Incomes from entrepreneur activities occupy the first place for its amount, which in 2006 will comprise 23.8trln manats (4760m AZN), or 52.1% of all community incomes. However, it is not secret that the observation of this type of incomes becomes complicated not only due to absence of necessary data, but also concealment of a considerable under shadow makes suspicious the figure. With respect to ensure transparency in calculation of the incomes from the entrepreneurship activities the State Statistics Committee planned to apply several innovations.

Wages, which is the second type of community incomes, takes major place in incomes of the employed part of population, and for definite part вЂ" an only source of incomes. In accordance with the forecasts, its average monthly amount is expected to be 780,400 manats, or 156.1 new manats, in 2006, while the total amount will comprise 9trn manats (1800m AZN). From January 2006 minimal wage rate will comprise 200,000 manats and further it is planned to increase it. In general, it is planned to increase minimal and average salary 33.3%, and minimal salary to minimal basket of foods and living wage. As of end 2005 the living wage is expected to comprise 250,000 manats. Increase of minimal salary will continue till 2009. In compliance with the government’s forecasts in 2009 the average monthly salary will reach 1,524,000 manats (304.8 AZN).

Incomes from exchange of foreign currency are also regarded as a considerable source of community incomes. Incomes of this category are predicted to reach 6.5trln manats (1300m. AZN) in 2006.

Social transfers are estimated at 2.9trln manats (580m AZN). It includes pensions, stipends, and different benefits. Tremendous changes are predicted in the sphere of social security of population in connection with the application of law on targeted social aid and reforms in the elections legislation. Average pension rate is expected to reach 210,000 manats, or 42 new manats.

The next incomes article is linked with incomes of and workers and employees received from the enterprises and organizations (except wages). They will comprise 570bn manats (114m AZN) and are regarded as social payments not referred to wage fund.

The lowest article of incomes remains the property incomes, which will comprise 50bn manats next year.

The community expenses, in accordance with the government’s forecasts, will comprise 44.97trln manats (8994m AZN), or 720bn manats down as compared to community incomes. The growth pace of the indicator will comprise 6.3% as compared to for forecasts of 2005 (35.6trln manats).

72.7% or 32.72trln manats (6544m AZN) of expenses will be spent on purchase of goods and services. 8.9trln (178m AZN) will be used for purchase for foreign currency with regard to save or further use of the profits obtained for covering the exchange rates. 2.3trln manats will be spent on obligatory payments (taxes) and voluntary fees to be collected next year. The amount of real incomes of the population, which will remain under the possession will comprise 39,807trln manats. Only 1.05trln manats will be spent on deposits and purchase of securities.

Thus, in compliance with the balance of community money incomes and expenses, the community incomes will exceed the expenses in 2006. However, there is a probability of the opposite: the incomes could turn out higher unless the government prevents an increase of inflation. Still unaware of public opinion I should say that the government is optimistic in connection with the socio-economic development of Azerbaijan in future.

The Azerbaijani Finances Minister, Avez Alekperov, said the expansion of the budget and the anti-inflation actions in the current conditions will not exceed the said figure. “If the process continues in presence of 8-9%-inflation, the real money incomes of budget organizations will reach tangible amount. Incase the process is maintained in 2007-2009, we will not face with problems,” he underlined.

Life will show. Let’s wait….

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