Social insurance debts hinder entrepreneurship - Azerbaijan's Deputy Minister
By Trend
A bill “On adjustment of debts in compulsory social insurance” is aimed to development of entrepreneurship, Azerbaijan's Deputy Minister of Labor and Social Protection of Population Idris Isayev said during the discussion of the bill in the joint meeting of the Legal Policy and State Building and Labor and Social Policy committees of the National Assembly.
The deputy minister said that these debts cause difficulties for the entrepreneurial activity.
“Income from the social insurance has increased 9.4 times since 2003,” he added.
There is a number of pending unpaid debts, Isayev noted.
According to him, such debts exceeded 364 million manats in Jan. 1, 2018, including 282.6 million of base debts and 81.8 of sanctions and fines for violation of the social insurance legislation.
The deputy minister noted that the debts write-off won’t affect the payout of pensions for citizens.
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