Finance

Home page

Finance

Azerbaijan's Accounts Chamber prepared draft law on SSPF and UIF

Chairman of the Chamber of Accounts Vugar Gulmammadov

05 November 2025 13:47 (UTC +04:00)

The concept of transfers allocated from the budget no longer exists, said Chairman of the Chamber of Accounts Vugar Gulmammadov during the discussion of “Azerbaijan Republic’s 2026 State Budget Envelope” at the joint meeting of the Committees on Labor and Social Policy, Economic Policy, Industry and Entrepreneurship of the Milli Majlis, APA reports.

“We have been using this expression over the past 2–3 years. The phrase ‘the state’s obligation to the State Social Protection Fund’ exists. The ‘Azerbaijan Republic’s 2022–2026 Socio-Economic Development Strategy’ includes the task of defining the state’s obligation within the pension system. Next year, the ministry will likely take operational measures to achieve this goal. We can also say that expressions like ‘the share of the state budget in the Fund’s expenditures’ are now outdated. How should the draft laws of the State Social Protection Fund and the Unemployment Insurance Fund be structured, what requirements should they meet, and with what documents should they be monitored? The Law ‘On the Budget System’ does not contain such a requirement. We have prepared a draft regarding this. We would like to both submit this draft to parliament and include it in the list of requirements of the Law ‘On the Budget System’ with the ministry in the coming years. In the end, we should be able to use the expression ‘the draft law complies with the requirements of the normative legal act,’” said the Chairman of the Chamber of Accounts.