BAKU, Azerbaijan, December 9. The mandatory state social insurance contributions in Azerbaijan reached 5 billion manat ($2.9 billion) from January through November of 2024, a 10.5 percent increase from the previous year, Trend reports via the State Tax Service under the Ministry of Economy of Azerbaijan.
As per the service's data, receipts from off-budget organizations increased by 13 percent compared to the same period in 2023, amounting to 3.4 billion manat ($1.9 billion).
Unemployment insurance contribution revenues rose by 12.4 percent, totaling 183.9 million manat ($108.1 million), with non-budgetary organizations' revenues increasing by 14.8 percent to 139.1 million manat ($81.8 million).
Contributions for compulsory medical insurance increased by 8.5 percent, reaching over 913.8 million manat ($537.5 million), while off-budget organizations' revenues increased by 9.8 percent to 651.2 million manat ($383 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.