2019 state budget to be amended

A bill on amendments to the Law on State budget for 2019 was submitted to the Azerbaijani parliament with the initiative of President Ilham Aliyev, Report informs citing the Ministry of Finance.

According to the ministry, in connection with the increase of minimum wage and pension, budget of the State Social Protection Fund under the Ministry of Labor and Social Protection of the Population should be AZN 200 million, budget of Unemployment Insurance Fund by AZN 15 million. In order to compensate these expenses, AZN 350 million is planned to be transferred from compulsory state social insurance contributions.

In connection with this, the upper limit of the consolidated budget expenditures is expected to be increased by AZN 215 million and funds for the SSPF are planned to be cut by AZN 150 million.