State Social Protection Fund of Azerbaijan records increase in revenues

By Trend

The income of the State Social Protection Fund amounted to 5.1 billion manat ($3 billion) in 2021, which is 9 percent or 429 million manat ($252.3 million) more than in 2020, the State Social Protection Fund under the Ministry of Labor and Social Protection of Population of Azerbaijan told Trend.

According to the agency, over 3.8 billion manat ($2.2 billion) fell on mandatory state social insurance contributions in the Fund's income, which is 290.2 million manat ($170.7 million) or 8 percent more compared to the same period in 2020.

The SSPF expenditures for 2021 totaled 4.8 billion manat ($2.8 billion), which is 132 million manat ($77.6 million) or three percent more compared to the previous year.