Azerbaijan increases unemployment insurance receipts by more than 12%
In January-October 2024, receipts on unemployment insurance premiums in Azerbaijan totalled AZN 167 million. This was reported by the State Tax Service under the Ministry of Economy.
According to the data, this is up by 12.3% from the same period of 2023.
Of the 10-month receipts, AZN 126.4 million came from extra-budgetary organisations, which is up by 14.9% from a year ago.
Note that the budget of the Unemployment Insurance Fund under the Ministry of Labour and Social Protection this year is AZN 238 million. At that, 184.7 million manats with revision should be formed at the expense of unemployment insurance contributions. About 90% of this amount has been accumulated in the reviewed period.
Finance
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Economic growth in Azerbaijan in 2024 was 4.1% amid a slowdown in the decline in oil production and the effectiveness of Karabakh's reconstruction.This was announced by international rating agency Fitch.
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International rating agency Fitch has once again confirmed the long-term issuer default rating (IDR) of Azerbaijan in foreign currency at the level of ‘BBB -’.This is stated in the agency's statement.
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In December 2024, the State Customs Committee (SCC) transferred 646.45 million manat to the state budget, the SCC’s website. According to the data, this is a 4.4% increase compared to the same period in 2023. In particular, last year, customs duty revenues increased by 20.2% to 158.2 million manat, while VAT (Value Added Tax) revenues decreased by 0.45% to 463.5 million manat. Excise tax revenues increased by 6.2% to 19.55 million manat, and road tax revenues increased by 45.9%, amounting to 5.2 million manat.
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An auction for the placement of interest-bearing, unsecured, undocumented, registered bonds of the non-bank credit organization (NBCO) Embafinans with the code AZ2013020600 ISIN, worth 2 million manat for a one-year term, was held at the Baku Stock Exchange (BSE), the BSE reported.
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