TODAY.AZ / Business

Fees on compulsory state social insurance up by 34.1pct

13 August 2020 [15:21] - TODAY.AZ

By Azernews


By Ayya Lmahamad

For the first six months of current year, the amount of fees for compulsory state social insurance increased by 34.1 percent, compared to the same period last year, local media reported with the reference to Ministry of Economy.

The amount of fees during the reporting period increased by AZN 434.6 million ($255.6M).

Thus, as of July 1, the forecast for compulsory state social insurance fees in the amount of AZN 1.5 million ($882,352) is over fulfilled by 14.7 percent.

Moreover, fees of the budget sector increased by AZN 235.7 million ($138.6M), or 1.5 times, compared to the same period last year. In addition, fees for non- budget sector increased by AZN 198.9 million ($116.9M) or 24.4 percent.

Furthermore, unemployment insurance premiums in the first half of current year amounted to AZN 58.5 million ($34.4M), against the forecast of AZN 53.6 million ($31.5M). Thus, the forecast is over fulfilled by AZN 4.9 million or 9.2 percent.

Additionally, for the first six months of 2020, the amount of premiums increased by AZN 11.5 million ($6.7M) or 24.5 percent compared to the same period in 2019.

URL: http://www.today.az/news/business/196278.html

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