SSPF Earns More Than Spends

The State Social Protection Fund (SSPF) completed the first quarter with a budget surplus of 25.8 million manat.

According to the Fund, by April 1, its revenues amounted to 751.5 million manat (+ 5.5% versus the same period last year). The largest share of receipts was on compulsory social insurance (410 million manat or 54.6% of total revenues), while 270 million AZN was obtained at the expense of the private sector.

The expenses were at the level of 725.7 million manat, of which 97.6% was for pensions and another 0.4% was for the payment of benefits.

By April 1, 2015 the number of labor pensioners in Azerbaijan amounted to 1 million 293.2 thousand people. The number of contributors to the mandatory social insurance (employees and private traders) was at the level of 3 million 041.8 thousand people. --17D-

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