Milli Majlis adopts amending to Azerbaijan`s budget in 3rd reading


July 12, Fineko/abc.az. At today’s plenary session the MPs have passed the amending bill in the 3rd reading to the Law on the State Budget 2019.

Due to increased minimum wage and pensions in Azerbaijan, it became necessary to increase the budget of the State Social Protection Fund under the Ministry of Labour & Social Protection (DSMF) by AZN 200 million, and the Unemployment Insurance Fund by AZN 15 million.

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

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

Additional expenses in the amount of AZN 150 million will be allocated for Article "Defence Expenditures". Their volume will increase up to AZN 3.187 bn.

The drafting bill was put to a vote and approved.