Finance

Finance

Azerbaijan increases expenses on pension and benefits by 3%

10 September 2013 12:56 (UTC +04:00)

The receipts on compulsory state social insurance premiums reached AZN 998.5 mln, exceeding forecast by 3.1%, up 12% from a year earlier.

63.6% of receipts on compulsory state social insurance premiums falls to share of non-budgetary sector. Amount of the compulsory state social insurance premiums paid this sector exceeded forecast by 19.7%, previous year – by 18.2%.

Receipts from individuals engaging in entrepreneurship rose 45%, from land owners – 25.1%.

Receipts from budget-financed institutions stood at AZN 363.8 mln, from other incomes – AZN 4.2 mln.

Fund’s expenditures were AZN 1,658.8 mln. AZN 1,626 mln was directed to financing of pension and benefits, up 3.4% from a year earlier. Pension expenses rose 3.4% to AZN 1,586.7 mln. AZN 39.3 mln-benefit was paid to the population.