Social protection fund’s budget to be deficit-free in 2017
By Trend
Revenues and expenditures of the State Social Protection Fund under Azerbaijan’s Ministry of Labor and Social Protection of Population are forecasted at the level of 3.4 billion manats, which is by 100 million manats more than the figure for 2016, said Azerbaijani MP Hadi Rajabli.
Rajabli, who is also the head of the Azerbaijani parliament’s committee on labor and social policy, made the remarks during discussions on the draft state budget and concept of socio-economic development for 2017 and the next three years at the parliament’s plenary session.
The member of the parliament noted that the main part of the growth is related to the increase in the volume of collections on social insurance.
Meanwhile, transfers form the state budget to the State Social Protection Fund’s budget significantly decreased.
“If in 2015, it accounted for 42.5 percent of the fund’s revenues, in 2017, the share of transfers in revenues of the State Social Protection Fund is expected at the level of 34.7 percent,” said Rajabli. “As for the expenditures, it should be noted that 95 percent of expenditures will be used for the payment of labor pensions.”
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