Budget of State Social Protection Fund Approved

On December 28 President Ilham Aliyev approved the law on the application of the law on the budget for 2017 of the State Social Protection Fund of the Ministry of Labor and Social Protection of the Population.

The following year, the Fund’s budget will be 3.4 billion manat, of which 2 billion 125 million manat will be formed at the expense of obligatory state social insurance cards, including 704.3 million manat of the payroll of employees of budgetary organizations, AZN 96 million from organizations financed from the state budget, and AZN 24.7 million from non-budgetary funds of budget organizations.

The non-state sector will provide the State Fund means in the total amount of 1.3 billion manat, of which 54.4 million manat will be provided by individuals engaged in entrepreneurial activities without creating a legal entity.

Transfers from the state budget to the SSPF will amount to 1 billion 270 million manat.

In 2017 the State Fund will pay the population 3 billion 318.2 million manat, including pensions of 3 billion 213.8 million manat.

The unemployed will be paid allowances in the amount of 17.6 million manat.

The Fund's expenses on delivery of pensions to pensioners will be 21 million manat. The SSPF maintenance will amount to 40 million manat. -----08D