2008 Budget of Azerbaijan State Social Protection Fund to be Corrected at 11%
Azerbaijan, Baku, 30 April /corr. Trend I.Khalilova / The Government of Azerbaijan plans to increase the revenue part of the 2008 budget of the State Social Protection Fund of Azerbaijan from AZN 1,268,648,000 up to 1,405,515,000 a government source said.
In the income structure, the payments on the obligatory social insurance are envisaged to be increased from AZN 917.148mln (3,462,575 from Public payers and 5,126,735 from private payers) to AZN 1 019.015mln (409.816mln and 542.315mln accordingly). The transfers from the Public budget to the Fund increased from AZN 350mln to AZN 385mln.
According to the expenditure article, AZN 1,213,476,500 (including labor pension - AZN 1,179 856,500) have been allocated for payments to population which will be increased up to AZN 1,348,513,500). The administrative expenditure of the Fund will increase from AZN 18.7mln to AZN 19.7mln, and the share of payments in the international projects will remain at previous amount AZN 415,000.
The project of changes to the budget of the State Fund envisages to direct remains (AZN 1,975) from the accounts of the central administration and local organizations of the State Fund as of 1 January 2008 towards covering Fund's 2008 expenditure.
Re-devised forecasts of the Fund's budget have already been presented to the approval of Azerbaijan Parliament which is expected to consider them on 2 May.
The AZN rate on 29 April made up 0.8288 to 1 USD
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