Azerbaijan increases minimum wage and pension from today


March 1, Fineko/abc.az. The minimum salary and the minimum retirement pension has been increased in Azerbaijan starting from today.

The Ministry of Labor & Social Protection informs that the minimum wage has been increased up to AZN 180 (rise of 38.4%), and the minimum size of the labor pension increased up to AZN 160 (rise of 38.5%).

"The increase in the minimum wage will cover 600,000 people, including 450,000 people working in the public sector. The salary is increased by 30%. The wage of 150,000 people working in the private sector has been increased by 25%. The State Budget will allocate AZN 400 million for this purpose, and additional financing of AZN 335 million for 10 months of 2019," it was reported.

According to the Ministry, increase in the minimum pension will cover 233,000 pensioners. The State Social Protection Fund under the MLSP will allocate AZN 49 million of additional financing for the year and AZN 41 million for 10 months of 2019.