Azerbaijan's State Social Protection Fund gives summary of its spending in Q12024
The spending of the Azerbaijani State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of Population grew by 14 percent (207 million manat, or $121.7 million) to 1.7 million manat ($1 million) from January through March 2024.
According to the source, SSPF's revenues in the reporting period increased by 7% (108 million manat, or $63.5 million) from the forecast, totaling 1.67 billion manat ($980 million).
During the same time, income from compulsory state social insurance increased by nine percent (104 million manat, or $61 million), totaling 1.3 billion manat ($760 million).
Notably, the SSPF's income in 2023 was 6.67 billion manat ($3.9 billion), up 16.5 percent from 2022, while expenses were 6.08 billion manat ($3.58 billion), a 15.8 percent increase.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!