Wage fund has increased in private nonoil sector


August 7, Fineko/abc.az. According to the Ministry of Taxes, the number of the cardholders of private organizations has increased more than by 18% since the beginning of the year.

As a result, the volume of the wage fund in the private nonoil sector grew by 22.8% for the 1st half of 2019 (against the 2018 same term), including 21.4% less the impact on the increase in the minimum wage in the current year.

That led to a rise in the total wage fund by 2.5% in relation to the money income of the population. This dynamics caused high growth rates of social insurance and unemployment insurance premiums.