Payroll increased by 16% in 1st quarter of 2019


June 13, Fineko/abc.az. The total wage fund made up 16.2% in the 1st quarter of this year versus the 2018 same term.

Advisor to Tax Minister Khagani Abdullayev pointed out that, including the growth of 20% in the non-oil sector.

He informed that the wage fund grew by 19.2% in the private sector of the non-oil sector due to minimization of the minimum wage.

In addition, under conditions of "bleaching" the number of hired employees for the first 4 months of this year (compared with the 2018 same term), revenues from social insurance contributions increased by 16.8% and revenues from extra-budgetary organizations by 17.7%.

Income from unemployment insurance contributions grew by 65.1%, including on non-budgetary organizations by 90.1%. The share of these organizations in total revenue increased from 63.9% up to 73.6%.