BAKU, Azerbaijan, January 13. The mandatory state social insurance contributions in Azerbaijan grew in 2024.
The data obtained by Trend reports from the State Tax Service under the Ministry of Economy shows that this indicator amounted to 5.76 billion manat ($3.39 billion), up 10.9 percent or over 566.5 million manat ($333.2 million) compared to 2023.
Besides, receipts from off-budget organizations increased by 13.7 percent from 2023, exceeding 3.8 billion manat ($2.2 billion).
Unemployment insurance contribution revenues rose by 13.7 percent, totaling 208.1 million manat ($122.4 million), with non-budgetary organizations' revenues increasing by 16.9 percent to 156.9 million manat ($92.29 million).
Contributions for compulsory medical insurance increased by 8.6 percent, reaching over one billion manat ($588.2 million), while off-budget organizations' revenues increased by 10 percent to 721.3 million manat ($424.29 million).
Notably, receipts from mandatory state social insurance contributions surged by 13.3 percent in 2023 (610.5 million manat, or $359.1 million) compared to 2022, totaling 5.2 billion manat, or $3.06 billion.