Unused finances of Unemployment Insurance Fund are lowered

14:56 - 7.06.2024

June 7, Fineko/abc.az. By the end of 2024, the unused finances of the Unemployment Insurance Fund will decrease.

ABC.AZ reports that this is reflected in the proposed amendment to the Law on the Budget of the Unemployment Insurance Fund for 2024.

According to the draft, by the end of 2024, the UIF unused finances will be reduced from 57,953,200 manats to 53,253,200 manats.

At that, according to the draft, unemployment insurance premiums will be increased from 179,976,800 manats to 184,676,800 manats. This will be achieved by increasing insurance premiums for unemployment insurance in the off-budget sector from 134,600,000 manats up to 139,300,000 manats.

Thus, as a result of a reduction in UIF unused finances by 4,700,000 manats and an increase in unemployment insurance premiums for the off-budget sector by 4,700,000 manats, the UIF income and expenses do not change.