Despite the fall in world oil prices and the devaluation of the manat, the deficit of the budget of the State Social Protection Fund (SSPF) for 2016 amounted to 3 billion 78 million 570.1 thousand manats. This concerns both the revenue and the expenditure side of the budget.
Yesterday the President of Azerbaijan signed a corresponding decree. According to the document, in the structure of income over a third (AZN 1.1 billion) are transfers from the state budget. As part of the payments on compulsory social insurance it is planned to get 1 billion 978.6 million manats.
Most (95.5% of expenditure) will be spent on payment of pensions - 2 billion 923 million 588 thousand manats, while on social benefits and costs of the central and local administration the State Fund will allocate 155 million manats.
Recall, income and expenses of the balanced budget of State Social Protection Fund was approved at the level of 3 billion 56 million 285.7 thousand manats. --17D-
Economics
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