BAKU, Azerbaijan, July 23. The number of persons employed in Azerbaijan's private sector will increase to 80 percent from 2022 through 2026 as is envisaged in the "Socio-economic development strategy of the Republic of Azerbaijan for 2022-2026", Trend reports.
According to the document, the share of the employed population in the private sector amounted to 77.6 percent in 2021.
The entrepreneurial activity will be promoted following the strategy document, which in turn will result in the new workplaces. In particular, creating the required conditions for the development of small and medium-sized businesses, as well as self-employment in the regions will ensure effective employment. As a result of reducing the share of informal employment, the private sector employees will account for 50 percent (46.9 percent in 2021), according to the document.
According to the State Statistical Committee of Azerbaijan, the number of employees in Azerbaijan increased by 28,300 people, or 1.7 percent as of June 1, 2022 against the same period of 2021.
