Azerbaijan increases revenues and expenses on SSPF by AZN 30 mln

Azerbaijan increases revenues and expenses on SSPF by AZN 30 mln
# 25 June 2024 12:11 (UTC +04:00)

The revenues and expenses of the State Social Protection Fund (SSPF) are increased by AZN 30 million, it was reflected in the draft law on Amendments to the Law of the Republic of Azerbaijan "On the budget of the State Social Protection Fund for 2024," which was discussed at today's session of the Milli Majlis, APA reports.

The revenues and expenses of the budget for 2024 on the State Social Protection Fund are increased from AZN 6,919,860,000.0 to AZN 6,949,860,000.0.

According to the draft law, compulsory state social insurance fees will be increased from AZN 5,288,135,400.0 to AZN 5,478,135,400.0. This increase will be due to the increase in social insurance premiums for the non-budget sector.

Compulsory social insurance fees for the non-budget sector will be increased from AZN 3 387 100 000,0 to AZN 3 577 100 000,0. In order to balance the budget of the State Social Protection Fund, the funds allocated from the state budget for the financing of the obligations of the state budget will be reduced from AZN 1 392 000 000,0 to AZN 1 232 000 000,0.

After discussions, the draft law was put to a vote and adopted in the third reading.

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