Amendments to the law “On State Budget of Azerbaijan for 2019” were discussed on July 12 at an extraordinary meeting of the Azerbaijani parliament, according to Trend.
In connection with increasing the minimum pension and salaries, it became necessary to increase the budget of the State Social Protection Fund under Azerbaijan’s Ministry of Labor and Social Protection of the Population by 200 million manats, and the revenues and expenses of the Fund from the residual funds arising from the execution of the budget of the Unemployment Insurance Fund – by 15 million manats.
To cover these costs, additional revenues are planned from compulsory state social insurance contributions worth 350 million manats in 2019.
In this regard, it is envisaged to increase the top level (limit) of budget expenditures in 2019 by 215 million manats to finance additional costs, in accordance with the law “On Budget System”, and to reduce the amount of funds allocated from the state budget to the Fund by 150 million manats, for the balance of income and expenses of the State Social Protection Fund.
After discussions, the amendments were put to a vote and adopted in the third reading.