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Azerbaijan sees 36% growth in pension payments

08 August 2012 11:01 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. In January-July, incomes of State Social Protection Fund made AZN 1,517.4 mln, up 37.9% from 2011. Fundâ€™s press service says the receipts on the compulsory state social insurance premiums soared 14.6% to AZN 785.0 mln.

58.9% or AZN 462.3 mln of these receipts belongs to non-budgetary sector. The state social insurance premiums paid by the same sector rose 17.2%, forecast was fulfilled by 108.5%.

The receipts on individuals soared 11.8%, incomes from property owners â€“ 17.8%.

Receipts from organizations financed by budget stood at AZN 322.7 mln. Social insurance premiums by this sector rose 11.1% in comparison to a year earlier.

Receipts on other incomes made AZN 4.1 mln.

Fundâ€™s expenditures made AZN 1,421.7 mln. Fund directed AZN 1,395.5 mln to finance the pensions and benefits, up 34.9% compared with a year earlier. Pension expenses surged 36.0% to AZ 1,362.9 mln, Population was paid AZN 32.6 mln-benefit during January-July.

SSPF other expenditures made AZN 26.2 mln, up 3.9% from 2011.