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Azerbaijan : ILHAM ALIYEV approves Law on budget of SSPF for 2016.

The Law on the budget of the State Social Protection Fund (SSPF) for 2016 has received nod from the President of Azerbaijan Ilham Aliyev.

The Law includes the SSPF budget revenues and expenditures were supported at the level of AZN 3.078 bn. Funds income would form due to compulsory social insurance fees - AZN 1.9 bn, other expenditures AZN 6.3 million, transfers from the State Budget AZN 1.1 bn.

Most of Funds expenditures would be aimed to fund the payments to the population, especially AZN 2.9 bn to finance pensions.

Because of the contributions on mandatory social insurance, AZN 87.5 million can be allotted for financing benefits.

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Publication:Mena Report
Date:Dec 10, 2015
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