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Azerbaijan increases pension expenses this year

07 June 2013 09:48 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. In January-May, 2013, the revenues of State Social Protection Fund made AZN 1,091.8 mln, up 2.4% from forecast. Fund says the receipts on compulsory state social insurance premiums rose 13.3% (4.5% more than prediction) to AZN 594.6 mln.

63.7% or AZN 378.5 mln of receipts on compulsory state social insurance premiums fell to share of non-budgetary sector. The payments from that sector on compulsory state social insurance premiums exceeded the forecast by 22.4%, previous year’s index – by 20.9%.

During this period, the receipts from the individuals engaging in entrepreneurship rose 49.7%, from landowners – 70%.

The receipts from organizations financed by the budget made AZN 216.1 mln, up 2.1% from previous year.

In January-May, the Fund’s expenditures stood at AZN 1,030.9 mln. During the reporting period, SSPF directed AZN 1,012.3 mln to financing of pension and benefits, up 1.8% from 2012. Pension expenses soared 1.8% to AZN 988.7 mln.

AZN 23.7 mln of benefit was directed to population in January-May.