MPs pass amendments to Azerbaijan’s budget in 2nd reading


July 9, Fineko/abc.az. At today’s Milli Majlis plenary session the parliamentarians adopted the draft amendments to the Law on State Budget 2019 in the 2nd reading.

It was stressed that given the increase of minimum wage and pension in the country, it is necessary to increase the budget of the State Social Protection Fund under the Ministry of Labor & Social Protection by AZN 200 million and the budget of the Unemployment Insurance Fund by AZN 15 million.

To cover those expenditures, additional revenues in the amount of AZN 350 million are provided on contributions for compulsory state social insurance.

In this regard, the expected requirements of the Law on the Budget System envisage additionally an increase in the upper limit of the consolidated budget expenditures for 2019 by AZN 215 million and decrease in the amount of funds allocated to the Fund for balancing SSPF revenues and expenditures to the State Budget by AZN 150 million.

The bill was put to a vote and approved.