Azerbaijan’s State Social Protection Fund sees 10% surge in expenses

In the first four months of 2025, expenses of Azerbaijan’s State Social Protection Fund (SSPF), operating under the Ministry of Labor and Social Protection of the Population, totaled 2.501 billion manats ($1.471 billion), Report informs, citing the ministry.

According to the Ministry, this figure represents a 10% increase (231 million manats, approximately $136 million) compared to the same period last year.

SSPF’s revenue in the first four months of 2024 stood at 2.715 billion manats ($1.597 billion), surpassing the forecast by 13% or 305 million manats ($179.4 million).

During this period, mandatory state social insurance contributions within SSPF’s revenue structure rose by 9% or 168 million manats ($98.8 million), reaching 2.039 billion manats (about $1.2 billion).