BAKU, Azerbaijan, February 3. The available funds of Azerbaijan's Unemployment Insurance Fund may be used as investments, Trend reports.
In this regard, it is proposed to amend the law "On Unemployment Insurance".
It is noted in the proposed amendments that the body (institution) determined by the relevant executive authority may direct the available funds of the Unemployment Insurance Fund to investments. Available funds, investment income, and unused balances of funds allocated for investments are collected into an account opened at the Central Bank of Azerbaijan, and their accounting is kept separately.
The budget of the Unemployment Insurance Fund under the Ministry of Labor and Social Protection of the Population of Azerbaijan will amount to 212.7 million manat ($125.1 million), which is 31.1 million manat ($18.29 million) or 17.25 percent more than in 2022.