Azerbaijan, Baku, April 15 (Trend, A.Akhundov)
According to preliminary data, the incomes of the State Social Security Fund (SSSF) of Azerbaijan in the first quarter of 2011 rose by 19 percent or 83 million manat against the respective period of 2010 to 521 million manat, SSSF Chief Salim Muslimov told a meeting of the Cabinet of Ministers devoted to the 2011 first quarter results of socioeconomic development. The meeting was chaired by President of Azerbaijan Ilham Aliyev.
"The growth of money incomes of the population of Azerbaijan by 16.8 percent, the increase of average monthly wages of 11.7 percent this January-March compared to the same period of last year, that per capita incomes exceeded inflation rate by 7.7 percent and that there was a stable situation in the budgetary and non-budgetary sectors contributed to a sustainable development of the pension-insurance system", Muslimov said.
According to him, budget revenues from the compulsory state social insurance in first 3 months of the year increased by 15 percent or 35 million against the respective period of last year up to 270 million manat.
"It should be noted that 58.2 percent of revenue from social insurance premiums came from non-budgetary organizations and that the social insurance premiums they paid grew by 17.3 percent or 23 million manat from the first quarter of 2010", Muslimov said.
The work on involvement of physical persons engaged in entrepreneurial activity and landowners in the social insurance was strengthened in the reported period, according to him. Earnings from physical persons and landowners were up 24 percent and 40 percent, correspondingly.
"In the first quarter, the Fund earned 250 million manat as transfers from the state budget", Muslimov said.
According to the SSSF Chief, the amount of SSSF incomes allowed to finance its expenditures in time.
"The financing of pensions was completed in accordance with the timeline in January-February 2011 and prior to the Novruz Holiday in March. For that purpose, there were used 57.4 million manat as part of the April transfer", said Muslimov.
According to him, SSSF expenditures in the first quarter were 466 million manat. This included 457 million manat as pensions and compensations, up 46 million manat or 11.2 percent from the first quarter of 2010. Noteworthy is that 97 percent or 444 million manat were pensions and that 13 million manat were compensations.
"At the moment, monthly payments to the population are equivalent to about $200 million", he said.
According to Muslimov, 4.2 million manat were spent to rise the insurance part of pensions of 620,000 labor pensioners in the first quarter of the year. The growth occurred as a result of pension indexation of 5.7 percent, in accordance with the 2010 inflation rate.
The official rate on April 13 is 0.792 AZN/USD.