BAKU, Azerbaijan, July 1. Revenus and expenses of the budget of the State Social Protection Fund (SSPF) of Azerbaijan for 2024 have been increased by 30 million manat ($17.6 million), Trend reports.
The matter was outlined in the law "On amendments to the law on the budget of the State Social Protection Fund for 2024", approved by the President of the Republic of Azerbaijan.
The fund's budget increases from 6.91 billion manat to 6.94 billion manat ($4.07 billion to $4.08 billion).
According to the law, the fund's revenues on compulsory state social insurance premiums were raised from 5.28 billion manat to 5.47 billion manat ($3.11 billion to $3.22 billion), while on the off-budget sector - from 3.38 billion manat to 3.57 billion manat ($1.99 billion to $2.1 billion).
In order to finance the obligations of the state budget to balance the budget of the State Social Protection Fund, the funds allocated from the budget were reduced from 1.39 billion manat to 1.23 billion manat ($818.8 million to $ 724.7 million).