Due to the increase in the amount of the minimum pension and salaries, it became necessary to increase the budget of the State Social Protection Fund under the Ministry of Labor and Social Protection of the Population of Azerbaijan by 200 million manats, and the Fund’s revenues and expenditures from residual funds resulting from the execution of the budget of the Unemployment Insurance Fund by 15 million manats.
To cover these costs, additional funds are planned in 2019 for compulsory state social insurance contributions worth 350 million manats.
Thus, it is envisaged to increase the upper level (limit) of budget expenditures in 2019 by 215 million manats to finance additional costs in compliance with the requirements of the law “On Budget System” and to reduce the amount of funds allocated from the state budget to the Fund by 150 million manats to balance incomes and expenses of the State Social Protection Fund.
After discussions, the amendments were put to vote and adopted.
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