The revenues of the State Social Protection Fund of Azerbaijan increased by 16.6 percent in 2023 compared to previous years, the fund's Chairman Himalay Mamishov said at a press conference, AzVision.az reports.
He noted that this figure exceeded 6.6 billion manat ($3.8 billion).
"Receipts from compulsory state social insurance last year grew by 13 percent (613 million manat or $360.59 million) and amounted to 5.19 billion manat ($3 billion)," the official explained.
"The fund's expenses last year rose by 16 percent, or 829 million manat ($487.6 million), reaching 6.8 billion manat ($4 billion). Payments to the population stood at 5.8 billion manat ($3.4 billion), which is 16 percent or 805 million manat ($473.5 million) more than in 2022," Mamishov added.
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