BAKU, Azerbaijan, June 25. Azerbaijan has increased the budget of the State Social Protection Fund (SSPF) for 2024, Trend reports.
The matter was outlined in the amendments to the "On the Budget of the State Social Protection Fund for 2024" law, which was discussed today at the meeting of Milli Majlis (Parliament).
According to the amendments, the fund's budget increases from 6.919 billion manat to 6.949 billion manat (from 4.070 billion to 4.088 billion). Moreover, the fund's revenues on compulsory state social insurance premiums will be raised from 5.288 billion manat to 5.478 billion manat (from 3.110 billion to 3.222 billion), while on the off-budget sector - from 3.387 billion manat to 3.577 billion manat (from $1.992 billion to $2.104 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 are reduced from 1.392 billion manat to 1.232 billion manat (from $818.823 million to $ 724.705 million).
Following the discussion, the amendments were put to vote and adopted in the third reading.
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