Azerbaijan prepares package of laws on investing reserves of State Social Protection Fund

By Trend

A package of laws on investing the reserves of the State Social Protection Fund and the Unemployment Insurance Fund has been prepared, Minister of Labor and Social Protection of the Population Sahil Babayev said, Trend reports.

He made the remark at a joint meeting of the Parliamentary committees for Law Policy and State-Building, for Defense, Security and Anti-Corruption, for Human Rights, for International and Inter-Parliamentary Relations during the discussion of the bill "On the state budget of the Republic of Azerbaijan for 2023".

According to the minister, the direction of reserves for investments is one of the important issues. In this regard, rules, a package of laws on investing the reserves of the State Social Protection Fund and the Unemployment Insurance Fund were developed, which was supported by all ministries.

"I believe that in the near future this package of laws will be sent to the Milli Majlis, and next year the State Social Protection Fund and the Employment Agency will be able to engage in investment activities. These revenues will be used for the purposes of social protection of the population," he noted.