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SSPF increases budget for 2013 by 7%

19 October 2012 13:43 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. The incomes and expenditures of the State Social Protection Fundâ€™s budget for 2013 are planned to be AZN 2,632.695 mln, draft law on State Social Protection Fundâ€™s budget for 2013 reported.

Main part of Fundâ€™s incomes, thatâ€™s AZN 1,550.161 mln or 58.9% of total incomes, falls to share of compulsory state social insurance premiums. Besides, AZN 1,077.034 mln is incomes to be allocated from state budget, AZN 5.5 mln â€“ other incomes.

About expenditures, AZN 2,500.291 mln o 95% of total expenses will be spent to AZN payment of labor pensions. In turn, AZN 1,358.480 mln of this sum will be directed to base part of pensions, AZN 1,141.811 mln â€“ to payment of insurance part.

Note that, the incomes and expenditures of Fundâ€™s budget for 2012 are planned to be AZN 2,454.3 mln. AZN 1,407.5 mln or 57.4% of the Fundâ€™s incomes makes compulsory state insurance premiums, AZN 1,044.3 mln or 42.55% - allocations from state budget. AZN 2,322.540 mln or 94.6% of total expenditures makes labor pensions.

As it seem, Fundâ€™s budget will be increased by AZN 178.395 mln or 7.3% in 2013. At the same time, transfers from budget increase by on AZN 32.733 mln. Main growth comes from insurance premiums. About comparison of expenditures, the payments on pensions next year will be increased by AZN 177.8 mln or 7.7%.