Azerbaijani Parliament Passes Unemployment Insurance Fund's 2024 Budget

12/5/2023 5:20:27 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 5. Azerbaijani parliament's meeting has discussed the draft law "On the budget of the Unemployment Insurance Fund for 2024", Trend reports.

It is planned that the income and expenses of the Unemployment Insurance Fund will amount to 238 million manat ($140 million) in 2024, which is 20.3 million manat ($11.9 million), or 9.3 percent more than in the current year.

The income of the Unemployment Insurance Fund for 2024 of 179.98 million manat ($105.9 million), or 75.6 percent, will be generated from unemployment insurance contributions, and 57.95 million manat ($34.1 million), or 24.4 percent, will be generated from unused funds until the end of this year.

In addition, 30.7 percent of the fund's expenditures will be directed to financing self-employment activities next year, 23.1 percent - for the maintenance of the employment service, 18.9 percent - for co-financing wages for social services, 14.7 percent - for the organization of vocational training and additional education.

The document, after discussions, was put to vote and approved in the third reading.

The budget revenues and expenditures of the Unemployment Insurance Fund are projected at the level of 217.7 million manat ($128.1 million) for 2023.

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