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SSPF sees 9% rise in revenues

14 March 2013 09:03 (UTC +04:00)

Baku – APA-Economics. In January-February, 2013, Azerbaijan State Social Protection Fund’s incomes made AZN 439.6 mln, up 3.5% from relevant forecast data, 8.5% - from previous year.

SSPF says the receipts from premiums on compulsory state social insurance was over 8.7% from forecast and rose 16.1% to AZN 205 mln.

63.4% or AZN 130.1 mln of receipts from premiums on compulsory state social insurance fell to share of non-budget sector. The compulsory state social insurance payments implemented by that sector were more 20.3% than forecast, 19.1% - than a year earlier.

During this period, involvement of individuals and land owners to social insurance was strengthened. Consequently, the receipts from individuals engaging in entrepreneurship rose 49.5%, from land owners – doubled.

In January-February, the receipts from organizations financed by budget made AZN 75 mln, up 11.3% compared with a year earlier.

Level of receipts allowed increase of pensions and benefits. Thus, SSPF’s expenses were AZN 407.5 mln. AZN 401.93 mln was directed to financing of pensions, up 4% from previous year. Pension expenditures soared 3.8% to AZN 393.7 mln.