BAKU, Azerbaijan, February 14. The State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of Population of Azerbaijan saw its revenues and expenses hit the ground running in January, totaling 579 million manat ($341.61 million) and 574 million manat ($338.66 million), respectively.
Data obtained by Trend from the SSPF shows that the revenues shot up by eight percent, or 44 million manat ($25.96 million), outpacing the forecast by a country mile.
Mandatory state social insurance contributions within the fund's revenues increased by 11 percent, or 44 million manat compared to the forecast for that period, totaling one million manat ($590,000).
Additionally, the SSPF’s expenses rose by 13 percent, or 66 million manat ($38.94 million) over the year.
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