Social insurance revenues significantly increase in Azerbaijan

By Trend

The positive results of socio-economic reforms, along with the expansion of the population's participation in the social insurance system, contributed to a steady increase in social insurance revenues, Azerbaijan’s State Social Protection Fund (SSPF) told Trend.

According to the SSPF, revenues to the compulsory state social insurance fund increased by 152 million manat ($89.4 million) or 17 percent in 1Q2022 compared to the same period last year and amounted to 1.46 billion manat ($858.8 million).

The increase in revenues from budget organizations amounted to 13.4 percent or 45.7 million manat ($26.8 million) and from non-budget organizations - 19.2 percent or 106.3 million manat ($62.5 million).