Today.Az » Society » State Social Protection Fund’s revenues up by 6.6 pct
20 June 2021 [10:00] - Today.Az

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.

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