Minister: Revenues of Azerbaijan's State Social Protection Fund spike from early 2020

By Trend
Revenues of the State Social Protection Fund (SSPF) from January through April 2020 spiked by 39.6 percent compared to the same period of 2019, Minister of Labor and Social Protection of Population Sahil Babayev said in an interview to media representatives, Trend reports.
According to him, in the reporting period, the amount of mandatory state social insurance fees to SSPF under the ministry surpassed the forecast by 163 million manat, or $95.8 million (17.2 percent).
“Despite the introduction of the special quarantine regime, revenues of SSPF increased by 313.4 million manat [$184.3 million], or by 39.6 percent compared to the same period of last year,” Babayev said.
The minister pointed out that last year, as a result of fulfilling a 105.5-percent forecast set on SSPF income, 200 million manat ($117.6 million) formed due to saving the Fund’s expenses has significantly contributed to ensure the continuity of social payments.
(1 USD = 1.7 AZN on May 7)
--
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!