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Economy Minister: Social Fund`s revenues to continue growing

16.01.2020,16:21


January 16, Fineko/abc.az. State Social Protection Fund’s revenues will total AZN 4.825 bn in 2020.

ABC.AZ reports that the statement was made by Economy Minister Mikayil Jabbarov at a press conference devoted to the results of 2019.

According to the minister, SSPF’s revenues amounted to AZN 4.128 bn for 2019.

Jabbarov linked the growth with the fact that this year's transfers to SSPF’s budget will make up 29.6%: "Last year this figure was 32.8%. The money collected in the SSPF are not enough to pay pensions and mandatory payments, so the state allocates subsidies. We’re interested what part of the money collected in the Fund are provided by citizens and what part by the state as a subsidy. The collection increases over the years, and the dependence on the subsidized fund decreases. Over the past 5 years there has been a significant decline to 10%."