The State Social Protection Fund (SSPF) of Azerbaijan in January-August this year, received income of 1 billion 624.6 million manat - 287.1 million (21.5%) more than the same time last year. The expenses amounted to 1,602.6 million manat.
According to the press service of the State Social Protection Fund, the one-month budget surplus of the Fund reached AZN 22 million (in the first quarter it was AZN 82 million).
The social insurance contributions received made up 891.9 million manat (15.2%), which also included contributions from non-budgetary sector (536.9 million manat).
Most of the costs of SSPF were on pensions - 1,571.8 million manat. -17D-
Economics
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Azerbaijan is nearing the completion of its winter crop sowing campaign for the 2025 harvest, with winter crops for grain and green fodder planted on 941,700 hectares as of Jan. 1, according to data from the State Statistics Committee.
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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