BAKU, Azerbaijan, July 1. The amendment to the law "On the budget of the Unemployment Insurance Fund for 2024," approved by President Ilham Aliyev, indicates that unused funds of the Unemployment Insurance Fund had decreased by the end of 2023, Trend reports.
According to the law, by the end of 2023, unused funds of the Unemployment Insurance Fund decreased from 57.95 million manat to 53.25 million manat (from $34.1 million to $31.32 million).
At the same time, unemployment insurance premiums were raised from 179.97 million manat to 184.67 million manat (from $105.86 million to $108.63 million). This will be ensured by increasing unemployment insurance premiums in the off-budget sector from 134.6 million manat to 139.3 million manat (from $79.2 million to $82 million).
Thus, as a result of the reduction of unused funds of the Unemployment Insurance Fund by 4.7 million manat ($2.76 million) and the increase of unemployment insurance premiums in the off-budget sector by 4.7 million manat ($2.76 million), the revenues and expenditures of the Unemployment Insurance Fund have not changed.
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