Finance

Home page

Finance

Azerbaijan increases pension expenditures by 21%

19 November 2012 10:37 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. In January-October, 2012, State Social Protection Fund’s incomes made AZN 2,125.1 mln, up 23.8% from year earlier.

Fund says the receipts on compulsory state social insurance premiums rose 15.6% to AZN 1,118.4 mln.

61.5% or AZN 688.2 mln of receipts on compulsory state social insurance premiums came from non-state budget sector. The state social insurance premiums paid by this sector soared 19.4%, forecast was fulfilled by 110.6%.

Totally, the forecast for state social insurance premiums on SSPF was fulfilled by 100.5%.

The receipts from individuals surged 22.1% compared with the previous 10 month, from land equity owners – 40.1%.

Receipts from organizations financed by state budget stood at AZN 430.2 mln. Compulsory state social insurance premiums paid by those organizations increased by 10.1%.

In January-October, SSPF expenditures were AZN 2,027.1 mln. Fund directed AZN 1,989.1 mln for financing of pensions and benefit, up 20.5% compared with a year earlier. Pension expenditures rose 20.9% to AZN 1,943.1 mln.

Note that AZN 46 mln was paid to population from compulsory state social insurance.