BAKU, Azerbaijan, July 30
By Eldar Janashvili - Trend:
Сompulsory state social insurance fees in Azerbaijan made up 1.7 million manat ($1 million) in the first half of this year, Trend reports on July 30 referring to the country’s Ministry of Economy.
Thus, as of July 1, 2020, the forecast of compulsory state social insurance fees in the amount of 1.5 million manat ($880,000) exceeded 14.7 percent.
In 1H2020, the amount of fees was 434.6 million manat ($255.6 million) or 34.1 percent more than the same indicator in 2019. Fees on the budget sector spiked by 235.7 million manat ($138.6 million) or 1.5 times, and on the extra-budgetary sector - by 198.9 million manat ($117 million) or 24.4 percent compared to the same period of last year.
"Insurance fees for unemployment in the reporting period amounted to 58.6 million manat ($34.4 million) against the forecast of 53.6 million manat ($31.5 million). Thus, the forecast exceeded 109.2 percent, that is, 4.9 million manat ($2.8 million). The total amount of the fees increased by 11.5 million manat (24.5 percent) compared to the same period of last year. Fees in the budget sector increased by 5.7 million manat or $3.3 million (45.3 percent), and in the non-budget sector - by 5.8 million manat or $3.4 million (16.8 percent) compared to the same period of last year," said the ministry.