Azerbaijan approves Unemployment Insurance Fund’s budget for 2019

14:57 - 30.11.2018


November 30, Fineko/abc.az. Milli Majlis has endorsed in today’s 3rd reading the budgets of the State Social Protection Fund (SSPF) and the Unemployment Insurance Fund for 2019.

According to the adopted budget documents, the SSPF income and expenditure budget are set totally at the level of AZN 3.928 bn. This figure is 9.8% more than in 2018. AZN 1.5 bn of Fund's revenues will be provided by transfers from the State Budget. Fees on compulsory social insurance are projected at the level of AZN 2.419 bn, including AZN 811.687 million of revenues from the public sector and AZN 1.497 bn from private owners.

In 2019 payments to the population will reach AZN 3.834 bn, including payment of pensions – AZN 3.743 bn and benefits – AZN 91.944 million.

The UIF revenues and expenditures for 2019 will amount to AZN 83.45 million and will be formed at the expense of revenues from employees of budget organizations, revenues in the form of fees from employees of budget organizations, revenues of employees of the private sector. Fund's expenditures in 2019 will also amount to AZN 451.4 million and will be formed through unemployment payments, organization of labor exchanges and fairs, organization of paid public works, and self-employment activity.

 

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