Revenues and expenditures of the State Social Protection Fund make AZN 3,307,400,000 in the revised state budget for 2016, up AZN 228,800,000 or 7.4% from approved budget.

Chairman of the State Social Protection Fund Elman Mehdiyev made the remarks at the meeting of Committee on labor and social policy of the Azerbaijani Parliament Feb.20.

Presenting the draft amendments to the law on the State Budget of Azerbaijan for 2016, Elman Mehdiyev said that SSPF’s receipts from compulsory state social insurance premiums are forecasted to increase AZN 82.8 mln or 36.2% and from transfers from the state budget – AZN 146 mln or 63.8%.

“In the revised state budget for 2016, expenditures are planned to make AZN 3,239,000,000 on payments to population, up AZN 227,800,000 or 7.6% from approved budget, as well as AZN 3,136,100,000 on pensions, up AZN 212,500,000 or 7.3% from approved budget,” said Mehdiyev.