Costs of Azerbaijan’s State Social Protection Fund up by over 13%

During January-April 2024, the expenses of the State Social Protection Fund of Azerbaijan amounted to 2.271 billion manats ($1.335 billion), up by 267.4 million manats ($157.2 million) or 13.3% from the corresponding period of the previous year, Report informs via the fund.

It was noted that 97.2% of the expenses were payments to the population.

Over the course of four months, the income of State Social Protection Fund rose by 2.2% or 47 million manats (about $27.6 million) and to 2.169 billion manats (about $1.275 billion).

Compulsory state social insurance revenues in the fund's income amounted to 1.811 billion manats (about $1.065 billion), which was 10% or 157 million manats (about $92.3 million) more than the forecast.