What will the living wage be in 2023?
Living minimum - this concept was used for the first time on October 5, 2004 in the "Living Minimum" law of the Republic of Azerbaijan. The subsistence minimum is a social norm consisting of the minimum value of the consumption basket and the sum of mandatory payments.
The Law of the Republic of Azerbaijan "On the Living Minimum", which implements the legal regulation of the living wage, defines the purposes for which the living wage is used:
- in the formation and implementation of the system of providing targeted state social assistance to low-income families
- in the development of the concept of improving the welfare of low-income families and State Programs
- in the evaluation and forecasting of the standard of living of the population
- in justifying the limit of the income of natural persons that is not subject to tax and compulsory payments
- in the development and implementation of measures for indexation of monetary income and savings of the population
- in the formation of the state budget, local budgets, non-budgetary state funds, prices and tariffs regulated by legislation.
The minimum living wage for the country is approved annually by the President of the Republic of Azerbaijan, Ilham Aliyev.
On December 5, 2023, the country's president Ilham Aliyev determined the minimum living wage for 2024. Thus, the minimum living wage for 2024 is 270 manats for the country, 287 manats for the working population, 222 manats for pensioners, and 222 manats for children. It was approved in the amount of 235 manats.
source: prezident.az website benefited.
