BAKU, Azerbaijan, March 12. The revenues on compulsory state social insurance contributions in Azerbaijan under conditions of the "formalization" of the number of employees and the wage fund exceeded 958.6 million manat ($563.88 million) from January through February 2025.
The data obtained by Trend from the country's State Tax Service under the Ministry of Economy shows that revenues from this source increased by 11.1 percent, or more than 96 million manat ($56.47 million), compared to the same period last year. Revenues on off-budget organizations increased by 15 percent year on year, exceeding 648.4 million manat ($381.4 million).
Meanwhile, revenues on unemployment insurance contributions increased by 15.7 percent compared to the same period of 2024 and totaled 34.4 million manat ($20.2 million). Revenues on extra-budgetary organizations increased by 17.2 percent and reached nearly 26.7 million manat ($15.7 million).
Revenues from mandatory health insurance premiums increased by 11.6 percent compared to the same period of last year, amounting to nearly 171 million manat ($100.59 million). Payments on extra-budgetary organizations increased by 10.8 percent, exceeding 122.3 million manat ($71.9 million).