Baku, Azerbaijan, Nov. 4
By Anvar Mammadov – Trend:
Azerbaijan’s unemployment insurance fund plans to allocate 33.478 million manats for unemployment insurance benefits next year, according to the fund’s draft budget for 2018.
The fund’s revenues and expenditures for the next year were approved at 89.04 million manats, according to the draft.
Of the total volume of the fund’s expenditures, it is planned to allocate 35.802 million manats for organization of events for self-employment, 13.709 million manats - expenses for maintaining administration of the employment service and its local bodies, 1.788 million manats - paid public work, 1.613 million manats - professional training and additional education, 1.38 million manats - co-financing (together with an insurer) of a part of salary of those insured for a certain period, 1.15 million manats –career counseling, 120,000 manats -the organization of labor fairs and stock exchanges.
The fund’s revenues are formed on the basis of insurance payments from budget organizations and their employees (17.726 million manats), insurance payments of other insurers (53.567 million manats) and other incomes (20,000 manats).
The law “On compulsory insurance against unemployment” will come into force in Azerbaijan starting from January 1, 2018.
(1.7003 manats = 1 USD on Nov. 4)