BAKU, Azerbaijan, November 9. Revenues from the mandatory state social insurance contributions in Azerbaijan grew from January through October 2024.
Data obtained by Trend from the State Tax Service under the Azerbaijani Ministry of Economy shows that this figure amounted to 4.67 billion manat ($2.75 billion), up 10.6 percent or 190.8 million manat ($112 million) year on year.
On top of that, the coffers from off-budget organizations saw a jump of 13.4 percent compared to the previous year, ringing in at 3.1 billion manat ($1.8 billion).
Unemployment insurance contribution revenues rose by 12.3 percent, totaling 167 million manat ($98.2 million), with non-budgetary organizations' revenues increasing by 14.9 percent to over 126.4 million manat ($74.3 million).
Meanwhile, contributions for mandatory medical insurance climbed by 8.4 percent, exceeding 829.4 million manat ($487.88 million), while the off-budget organizations' revenues increased by 9.6 percent to make up 591.2 million manat ($347.76 million).
To note, revenues from mandatory state social insurance contributions grew by 13.3 percent (610.5 million manat, or $359.1 million) in 2023 compared to 2022, totaling 5.2 billion manat ($3.06 billion).
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