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Azerbaijan's Parliament adopts budget of Unemployment Insurance Fund for 2023

Economy Materials 9 December 2022 11:39 (UTC +04:00)
Azerbaijan's Parliament adopts budget of Unemployment Insurance Fund for 2023
Elchin Mehdiyev
Elchin Mehdiyev
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BAKU, Azerbaijan, December 9. The bill on the budget of Azerbaijan's Unemployment Insurance Fund for 2023 was discussed in the third reading of Azerbaijan's Milli Majlis (Parliament), Trend reports.

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

According to the bill, the income and expenses of the fund are approved at the level of 212.6 million manat ($133.2 million), which is 17.3 percent higher than the planned figure for 2022.

In the income structure in 2023, income in the form of unemployment insurance premiums will amount to 159.5 million manat ($93.8 million), which is 75 percent of the Fund's income, unused funds of the Fund at the end of the previous year - 53.3 million manat ($31.3 million), or 24.9 percent of the income.

In the first half of 2022, the Fund's revenues amounted to 82 million manat ($48.2 million), and unused funds from previous years were not used for current year's expenses.

After discussions, the draft was put to the vote and approved in the third reading.

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