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Revenues of State Social Protection Fund of Azerbaijan to increase by more than 7 percent in 2013

Business Materials 13 November 2012 20:37 (UTC +04:00)

Azerbaijan, Baku, Nov 13 /Trend A.Akhundov/

Revenues and expenditures of the State Social Protection Fund (SSPF) of Azerbaijan for 2013 are projected at 2.633 billion manat, which is 7.29 percent more than in 2012, indicated in the draft State budget, which is under the consideration of the Parliament.

According to forecasts, the fund generated income, mainly from the proceeds from compulsory deductions for social insurance - at the level of 1.55 billion manat.

In the structure of the budget allocations of the social insurance institutions will amount to $539.19 million manat, through grants awarded by the state and the income from extra-budgetary funds of budgetary organizations, as well as through the use of the new financial mechanism in higher education institutions - 77.442 million manat and from other socially insured - 860 million manat.

Proceeds from the socially insured individuals engaged in entrepreneurial activities, is projected at $ 33.5 million manat, and other income - $ 5.5 million manat.

Transfers from the state budget is projected at 1.077 billion manat, while in 2012, contributions from the state budget amounted to 1.044 billion manat.

Some 2.57 billion manat in the projected cost structure of the Fund for 2013 account for payments to the population as a whole, including the payment of pensions - 2.5 billion manat (with the payment of the basic part of labor pensions laid 1.358 billion manat, insurance of - 1.142 billion manat). Benefits through deductions from the compulsory state social insurance are projected at 69.98 million manat.

The projections for 2013 in the cost structure Fund 2.57 billion manat account for payments to the population as a whole, including the payment of pensions - 2.5 billion manat (with the payment of the basic part of labor pensions laid 1.358 billion manat, insurance part - 1.142 billion manat). Benefits through deductions from the compulsory state social insurance are projected at 69.98 million manat.

Some 18 million manat will be provided for temporally disabled people, 22 million manat - pregnancy and childbirth, 12.671 million manat - for a funeral, eight million manat - to care for children up to three years, and 4.809 million manat - unemployment.

According to the budget of the State Social Protection Fund, the costs of banking services in order to provide the population by pension and other social benefits are projected at 20 million manat, 17.454 million manat is provided to finance the cost of the resort and spa activities under the Trade Union Confederation of Azerbaijan.

Some 23.5 million manat will be allocated for the maintenance of the State Social Protection and its organs.

Some 1.43 million manat will be sent for the execution of the measures envisaged by the State program for the development of the pension insurance system in Azerbaijan in 2009-2015.

Official exchange rate on November 13 is 0.785 AZN / USD.

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