Compulsory state social insurance payments hit $882.3m in Jan-May
By Ayya Lmahamad
The volume of vompulsory state social insurance payments in Azerbaijan amounted to AZN 1.5 billion ($882.3M), while unemployment insurance payments amounted to AZN 52.4 million ($30.8M) during the first five months of 2021, Economy Minister Mikayil Jabbarov wrote on his official Twitter page on June 21.
"During five months, collection of these insurance payments reached 111 percent and 109.6 percent of the forecast respectively," the Tweet reads.
Jabbarov said that revenues from non-budget organizations increased by 13.6 percent and 15.9 percent respectively, compared to the same period last year.
Stating that the introduction of compulsory health insurance is a new stage of socio-economic development, the minister emphasized that compulsory health insurance payments exceeded the forecast by 10.7 percent and amounted to AZN 216.8 million ($127.5M) in January-May this year.
Earlier, the minister stated that the tax revenues of Azerbaijan's state budget exceeded AZN 3.8 billion ($2.2bn), while the tax collection reached 127.1 percent of the forecast in the period of January-May 2021. In addition, budget revenues from the non-oil and gas sector reached AZN 2.7 billion ($1.5bn), including AZN 471.8 million ($277.5M) over the forecast.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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