Share of non-budgetary organizations in compulsory social insurance revenues up

26 April 2021 16:26 (UTC+04:00)

By Ayya Lmahamad

The share of non-budget organizations in revenues from compulsory state social insurance increased by 13.8 percent year-on-year in the first quarter of 2021, Azerbaijan's Economy Minister Mikayil Jabbarov wrote on his official Twitter page on April 23.

"These organizations provided 61 percent of total revenues, which is by 2.2 percent more than the same period last year," Jabbarov said.

Earlier, the minister stated that compulsory state social insurance contributions to the state budget amounted to AZN 895 million ($526.4M) in the first quarter of the year, which is by AZN 107 million ($62.9M) more than forecasted. He added that non-budget organizations provided AZN 75.1 million ($44.1M) of extra revenues. In addition, he stressed that transparency in the labor market is being increased.


Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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