As we reported, the bill "On the living wage for 2023" provides for an increase in the living wage in Azerbaijan by 17.1% or 36 manats to 246 manats from next year.
As you know, the living wage is a social norm, consisting of the sum of the cost of the minimum consumer basket and mandatory payments. The minimum consumer basket is a set of food, non-food products and services necessary for a minimum level of human health and vital activity, determined on the basis of scientific standards.
But will 246 manats be enough to "fill" the minimum consumer basket?
Yeniavaz.com's calculations show that it is impossible to "fill" the consumer basket with 246 manats in conditions when prices for food and non-food products, including housing and communal services, are rising. This is clearly seen when we look at the composition of the consumer basket.
It should be noted that the composition of the minimum consumer basket in the country was determined by the decision of the Cabinet of Ministers. When calculating the food, non-food goods and services included in this composition at current prices, the cost of the minimum consumer basket (258.84 manats) is higher than the subsistence minimum for the next year.
It should also be noted that the draft "State Budget of the Republic of Azerbaijan for 2023" for the next year predicts inflation (price growth) of 6.9%, which means that the cost of the minimum consumer basket next year will be about 30 manats more than the subsistence minimum (246 manats).