Average monthly salary to increase by 7,1% in Azerbaijan next year

Average monthly salary to increase by 7,1% in Azerbaijan next year
# 01 November 2022 14:22 (UTC +04:00)

Based on the expected implementation indicators of the current year, it should be noted that in the state budget of 2023, salaries, including expenses related to deductions for mandatory state social insurance taxes (22.0%), are predicted to increase by 8.6%, and the average monthly salary growth in the next year is expected to be 7.1%, according to the opinion of Chamber of Accounts on the draft budget of State Social Protection Fund for 2023, APA reports.

The opinion notes that the growth rate of insurance premiums forecasted over budget organizations in 2023 (22%) is 5,2% in comparison to the expected implementation of the current year.

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