OREANDA-NEWS. July 16, 2009. Following June 2009 average monthly wage in Azerbaijan grew by 0.51% against May 2009 (AZN 296.5) and by 11.2% versus December 2008 (AZN 268).

Simultaneously it increased year-on-year by 19%. Taking into account disinflation (-0.6%), monthly income of wage earners grew by 1.11% versus rise of 1.41% in December 2008, 8.68% in January 2009, 1.41% in February 2009, 0.7% in March 2009, and 1.5% in April 2009, 0.5% in May 2009.

The State Statistics Committee reports that average monthly salary totaled AZN 298 (USD 372.5; average rate: AZN 0.8 to the US dollar) in May 2009 that is by 19% more versus Jan-Jun 2008.

Following 2006 average monthly salary was AZN 141.3 (USD 158.76) and in 2007 - AZN 214 with growth of 42%, in 2007 it made AZN 214 with growth of 42% and in 2008 – AZN 268 with growth of 24.2%. The government forecasts average salary AZN 353.5 with growth of 26% for 2009.

For Jan-Jun 2009 average salary exceeded average monthly income (AZN 204.33) per capita by 45.9%. In June nominal income per capita reached AZN 1,226 that exceeds the 2008 relevant figure by 14.8%. Real income per capita reached AZN 1,099 (+15.2%). Under governmental forecast, in 2009 nominal income per capita will make AZN 2,580.9 with growth of 21.1%.

Nominal income of the Azerbaijani population for Jan-Jun 2009 totaled AZN 10.58 bn that is by 16.2% more against the 2008 same term figure.

The government forecasts for 2009 population’s income at the level of AZN 22.77 bn with growth of 22.5%. Population’s real income was at the level of AZN 9.488 bn (+16.6%). Under the specified forecast, following the year it is expected to be AZN 17.333 bn (+22.6%).

For Jan-Jun 2009 the population spent 67% of its income (AZN 7.09 bn) on purchase of goods and services, 10.4% (AZN 1.1 bn) on payment of taxes, duties, social and insurance fees, 22.6% (AZN 2.39 bn) on accumulation and purchase of freely convertible currency.

The government forecasts for 2009 population’s total expenses at the level of AZN 18.145 bn with growth of 24.6%. And expenses per capita are forecasted to make AZN 2,056 (+23.1%).

The population is forecasted to spend AZN 15.825 bn on purchase of goods and services, AZN 2.32 bn on payment of taxes and duties.