AZERBAIJAN: Positive dynamics in receipts to the state budget of Azerbaijan from compulsory state social insurance and insurance against unemployment remains

3 June 2021 — Marina MAGNAVAL
In the first four months of 2021 premiums from compulsory state social insurance and insurance against unemployment kept positive dynamics in receipts to the state budget of Azerbaijan - 112.6% and 111.4% respectively, as Trend reports referring to the publication of the Minister of Economy of Azerbaijan Mikayil JABBAROV.

As the Minister of Economy noted," in total over AZN 140.4 million (~USD 82.5 million) has been transferred to the budget for both types of insurance premiums", he wrote.

According to Mikayil JABBAROV, premiums for compulsory state social insurance increased thanks to the transparency in the labor market, as a result, the dependence of the State Social Protection Fund of Azerbaijan on the state budget decreased. If in 2017 the share of financing from the budget was at the level of 38.1%, at the end of 2020 this figure was less than 25%.



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