State Social Protection Fund’s revenues up by 6.6 pct
By Ayya Lmahamad
The revenues of the State Social Protection Fund under the Ministry of Labor and Social Protection of Population increased by 6.6 percent or AZN 142.8 million ($83.9M) and amounted to AZN 2.3 billion ($1.3bn) during the period of January-May 2021, the ministry’s press service has reported.
Moreover, the revenues of the Fund from state compulsory social insurance contributions increased by 8.4 percent or AZN 118.8 million ($69.8M) and amounted to AZN 1.5 billion ($882.3M).
Furthermore, expenses of the Fund for payments to the population increased by 5.1 percent to AZN 2 billion ($1.1bn) during the first five months of the year.
Additionally, the Fund has paid social support benefits and monthly presidential pensions to 732,600 people during the reported period. Of these, 437,400 people received monthly and lump-sum social benefits, while 295,200 received monthly presidential pensions.
It should be noted that the population was paid AZN 420.1 million ($247.1M), which is by 6.7 percent or AZN 26.2 million ($15.4M) more than during the corresponding period of 2020.
--
Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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!