Revenues and Expenses of SSPF Next Year almost 300 Million Manat to Exceed Forecasts for This Year

Revenues and expenditures of the balanced budget of the State Social Protection Fund (SSPF) in 2014 is to almost 300 million exceed the forecast for this year.

The Parliament approved a figure of 2 billion 928.5 million manat (this year, it is 2 billion 632 million 695 thousand manats). Income on tradition will be from 3 main sources: contributions for compulsory social insurance, transfers from the State Oil Fund and so-called "other positions". On the first of these there is planned delivery of 1 billion 780.4 million manat (60.8 % of total revenue, or 14.9 %, compared to current expectations). Of these, 1 billion 120 million is the proportion of private sector and 660.4 million manat - the public sector.

Transfers from the state budget to the budget of State Social Protection Fund for the next year are projected at 1 billion 142 million manats (+6 % for a year). On other income there is little hope - the forecast is 6.1 million manat.

The representative of the State Social Protection Fund (the first deputy chairman Elman Mehdiyev ) reported that, according to their calculations, in 2014 the number of pensioners in Azerbaijan can exceed 1 million 208 thousand people, 66 thousand less than on the 13th of November (today there are 1 mln 274 thsd 342).

The average pension is expected to reach 183 manats. According to him, the structure of the fund expenditures in the next year will include 2 billion 861.8 million AZN or 97.7 % will be spent on payments to the population (up 11.3 %), including 2 billion 788.6 million AZN - pension payments (up 11.5%) , 73.2 million manat - benefits.

In addition, 19.3 million manat will be the cost of banking services to pension payments, 25.5 million manat - the costs of running SSPF, and the rest - other expenses. - 17D-