Azerbaijan posts increase in proceeds from compulsory state social insurance

From January through September of this year, the proceeds from compulsory state social insurance in Azerbaijan amounted to 3.303 billion manats (over $1.94 billion), up 18.4% from the same period of 2021.

Report informs referring to the State Tax Service under the Ministry of Economy that off-budget organizations accounted for 2.119 billion manats (over $1.24 billion), up 19.7% from a year earlier.

Proceeds from insurance fees on unemployment made 115.4 million (over $67 million), which is a drop of 20.4% from the same period last year. In particular, proceeds from off-budget organizations increased by 20.7% to 85.3 million manats (over $50.1 million).

During nine months of the year, proceeds from compulsory health insurance grew by 40.8% compared to the same period last year, reaching 592.4 million manats (over $348 million), with proceeds of off-budget organizations up 52.7% to 411 million manats ($241 million).