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State Social Protection Fund budget for 2022 approved

17 November 2021 16:35 (UTC+04:00)
State Social Protection Fund budget for 2022 approved

By Ayya Lmahamad

Azerbaijan's parliament has approved the State Social Protection Fund budget for 2022 in the first reading, Trend has reported.

The bill was discussed at the meeting of the parliament on November 17. Following the discussions, it was put to vote and adopted in the first reading.

The fund's budget revenues and expenditures for 2022 have been set at AZN 5.3 billion ($3.1bn).

During the plenary session, Labor and Social Protection Deputy Minister Anar Karimov said that the expenditures of the State Social Protection Fund for 2022 will be equal to its revenues but by 3.1 percent more compared to expenditures in 2021.

He stated that 78 percent of the fund’s income in 2022 will be formed from fees for compulsory state social insurance.

The deputy minister also noted that the number of decisions made by the courts against the State Social Security Fund decreased by 96 percent.

"Personal accounting is completely centralized throughout the country. Some AZN 1.1 billion ($647M) identified as part of this process, the beneficiaries of which were unknown, were transferred to the accounts of specific individuals," Karimov said.

At the same time, the parliament has discussed the bill on the budget of the Unemployment Insurance Fund for 2022. Following the discussions, it was put to a vote and adopted in the first reading. The Fund's budget revenues and expenses for 2022 are proposed to be approved in the amount of AZN 180.4 million ($106.1M).

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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