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Azeri Finance Minister hails opening independent account for State Social Security Fund

Business Materials 3 June 2006 12:37 (UTC +04:00)

Depositing funds of State Social Security Fund of Azerbaijan (SSSF) in banks required creation of SSSFs independent bank account, Trend reports quoting Salim Muslimov, chairman of the fund. В"At the moment the Funds amounts are placed in the treasury, but this matter must get relieved through revisions to the law В"Budgetary systemВ". Finance Minister Samir Sharifov also supported this idea, as well as acceleration of pension system reformingВ", - Muslimov said.

State Funds incomes included the following: 49.7mln manat from budgetary structures (forecast 54.4mln, execution 91.5%), non-budgetary organizations 100.8mln manat (forecast 93.4mln manat). The forecast has also been executed on transfers from state budget 63.3mln manat.

From last year, a 12.6mln manat reminder formed at SSSFs account. В"Therefore, our financial resources amounted 227mln manat against 211.2mln of forecastВ", - Muslimov added.

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