Minister: 200 new jobs created daily in Azerbaijan's non‑oil private sector

From January 1, 2019, to November 1, 2025, an average of nearly 200 new jobs per day have been created in Azerbaijan's non‑oil private sector, Economy Minister Mikayil Jabbarov said at the first reading of the draft law on the State Budget for 2026 at today's plenary meeting of the Milli Majlis, Report informs.

"Let's agree that the creation of 200 jobs every calendar day is a major economic achievement for our country. Wage reforms have brought significant transparency to the labor market. For example, as a result of exempting salaries up to 8,000 manats ($4,705.88) in the non‑oil private sector from income tax, from January 1, 2019, to November 1, 2025, the number of labor contracts in the non‑oil private sector increased by 481,000, surpassing 1 million. The sector's share in total labor contracts rose from 38% to 54%," Jabbarov noted.

The minister also highlighted that the share of budget allocations in the revenues of the State Social Protection Fund under the Ministry of Labor and Social Protection of Population fell from 35.6% in 2018 to 17.5% in 2024:

"Compared to January 1, 2019, as of November 1, 2025, the number of active taxpayers in the country doubled, exceeding 845,000. Strategic currency reserves, which stood at $44.7 billion on January 1, 2019, increased 1.8 times to $82.5 billion as of November 1, 2025. This figure surpasses the expected GDP volume for 2025.

In 2019-2024, non‑oil industrial production in the country grew 1.9 times. Efficiency in the management of most major state‑owned companies has been improved through the application of corporate governance principles. The Azerbaijan Investment Holding and the Azerbaijan Transport and Communications Holding were established, and the profitability and economic indicators of most companies under these structures have significantly improved, while dependence on the state budget has decreased."