BAKU, Azerbaijan, November 22. The revenues and expenses of Azerbaijan's Unemployment Insurance Fund will amount to 260.7 million manat ($153.3 million) in 2025, which is 22.7 million manat ($13.3 million), or 9.5 percent more than in the current year, the Chairman of the Parliamentary Committee on Labor and Social Policy and MP Musa Guliyev said at a joint meeting of two committees, Trend reports.
He pointed out that 206.3 million manat ($121.3 million), or 79.1 percent of the fund's revenues, will be formed from the collection of unemployment insurance contributions, which is 21.7 million manat ($12.7 million), or 11.7 percent, more than the approved corresponding indicator for 2024.
According to him, 54.3 million manat ($31.9 million), or 20.8 percent of the revenues, will come from the reserve of the Unemployment Insurance Fund, formed as of January 1, 2025, and 75.9 percent of the insurance contribution collections (156.56 million manat or $92 million) will come from the non-budget sector.
"Next year, the fund's expenses will cover 13 areas, while 29.5 percent of the expenses will be directed to self-employment programs, 13.4 percent to the organization of professional training and further education, and in total, 55 percent of the funds will go towards active employment measures.
Compared to the approved budget project for the current year, in 2025, expenditures on unemployment insurance payments will increase by two million manat ($1.18 million), or 13.3 percent, and expenses for financing self-employment activities will rise four million manat ($2.3 million), or five percent.
Expenditures for organizing professional training, as well as funding part of the wages of workers in public works, and other active employment measures will remain at the same level as this year. In 2025, the Mandatory Insurance Fund plans to involve 8,000 people in the self-employment program.
Thus, the total number of people who will be covered by the self-employment program from 2017 to 2025 will reach 100,000. Next year, the State Employment Agency under the Ministry of Labor and Social Protection of the Nakhchivan Autonomous Republic is planned to be allocated nine million manat ($5.29 million).
The budget project of the Unemployment Insurance Fund for 2025 will create optimal foundations for compensating insured individuals for lost wages, financing self-employment, conducting professional training and career orientation activities, organizing paid public works, and other active employment measures," he added.
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