15.Nov .2021 01:45

Weekly Update on Regional News


Let’s look at the region then. Next year, 54.8 percent of Azerbaijan's expected state budget revenues in the amount of 26.8 billion manats will be formed at the expense of the oil sector - Report informs referring to the draft law on the state budget for 2022. According to the document, this is 6.6 percent and 4.1 percent more compared to the approved indicators for the current year, respectively. In the structure of non-oil revenues of the budget, 6.8 billion manats will come from tax authorities, 4.2 billion - from customs authorities and the rest from other revenues. Russian Gazprom began implementing a plan to restock European gas storage facilities, after critics accused Moscow of holding back supplies. Europe, which receives a third of its gas supplies from Russia, has seen energy prices soaring to record highs as economies come back online after the end of pandemic lockdowns, The Moscow Times reports. President Vladimir Putin in late October instructed Gazprom to increase supplies to Europe after it finished filling Russian storage facilities by November 8. "Gazprom has approved and begun implementing the plan for injecting gas into five European underground storage facilities," the company said on its Telegram channel. The rate of unemployment in Turkey was 11.5% in September, marking a 0.3 percentage point decrease from August, the latest data released. The number of unemployed people aged 15 and over fell by 70,000 to nearly 3.8 million, the Turkish Statistical Institute said in a statement. The labor force participation rate stood at 51.7%. The number of employed people in Turkey increased by 426 000 to over 29.2 million. According to distribution by sector, 17% of employment was in agriculture, 21.9% in industry, 6.2% in construction, and 54.9% in services. The minimum national monthly wage in Armenia will grow to 178 dollars until 2026, Deputy Minister of Labor and Social Affairs said. “We are planning to take the first step in 2023. At the moment, discussions are underway with the Ministry of Finance,” he said as reported by ARKA news agency. During the discussion of the state budget project, a member of the opposition alliance stated the need to raise the minimum wage, since the current minimum wage is 142 dollars, while the minimum consumer basket pushed up by inflation has reached 146 dollars.