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SSPF draft budget for 2014 discussed at joint meeting of Azerbaijani parliamentâ€™s commissions

04 November 2013 09:36 (UTC +04:00)

Baku. Aqshin Rafigoglu – APA-Economics. Today, a draft budget of the State Social Protection Fund for 2014 has bee discussed at the joint meeting of Economic Policy, Social Policy, Security and Defense, Natural resources, Energy and Ecology and Agrarian Policy Committee of Milli Majlis.

According to APA-Economics, SSPF Chairman Elman Mehdiyev noted that Fund’s 2014 budget will make AZN 2,928.5 mln, up AZN 295.8 mln or 11.2% from 2013.

He noted that 60.8% or AZN 1,784 mln of the revenues will make receipts on compulsory social insurance premiums, up 14.9% from 2013: “Insurance premiums paid from institutions financed by the budget will be AZN 660.4 mln. 2014’s expenditures are remained unchanged”.

Chairman of Economic Policy Committee Ziyad Samadzadeh said that Azerbaijan reduced dependency on oil and State Oil Fund decreased transfers to the state budget.

Minister of Finance Samir Sharifov noted that total income of the state budget pis planned to make AZN 18,834 mln, which is up 6.4% from previous year and equal to 31.4% of GDP. SOFAZ transfers to state budget will be AZN 9.337 bln.

The Minister added that 2014’s budget expenditures are forecasted to be AZN 20,063 mln, up 1.1% or AZN 213 mln from 2013.

Sharifov said AZN 40 mln will be allocated to the social mortgage, AZN 5 mln – to Agrolizing OJSC.

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