State Social Protection Fund’s budget for 2017 approved

Azerbaijan’s President Ilham Aliyev has approved the law on budget of the relevant social structure carrying out social assistance and security for 2017, Trend reported.

This structure is the country’s State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of Population.

Revenues and expenditures of the State Social Protection Fund have been approved at the level of 3.4 billion manats for 2017.

The fund’s revenues have been mainly formed by the revenues on compulsory deductions for social insurance in the volume of 2.125 billion manats.

It is planned to use 3,213,820 manats for the payment of labor pensions in 2017.