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PM reports: Our strategic foreign exchange reserves reach $51 bn

09.04.2020,16:12


April 9, Fineko/abc.az. Nominal income of the population increased by 7.4% compared with the previous year.

ABC.AZ reports that the statement was made by Prime Minister Ali Asadov on 9 April at a video report on Cabinet Ministers’ activities for 2019.

The PM noted that the average monthly nominal salary grew by 16.6% up to 635 manats.

According to Asadov, the growth of nominal incomes exceeded inflation by 4.8 percentage points, and the average monthly salary by 14 percentage points: “The State Budget revenues were fulfilled at the level of AZN 24.2 bn or 104.5% and expenditures AZN 24.4 bn or 97.0%. Over the past period important work has been done to ensure transparency and targeting of the State Budget, and to improve tax and customs administration. As a result, the level of collection on tax and customs debts has increased, and the number of registered payers has increased significantly. Strategic foreign exchange reserves have increased by 14.2% since the beginning of the reporting year and reached $51 bn, exceeding the volume of GDP."