Azerbaijan Sets $187.8M Budget For Unemployment Insurance Fund In 2027

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 4. The Azerbaijani Unemployment Insurance Fund's revenues for 2027 have been approved at 268.9 million manat ($158.2 million), and its expenditures at at 319.2 million manat ($187.8 million).

This is stipulated in the draft law "On the State Budget of Azerbaijan for 2027."

According to the document, 267.2 million manat ($157.2 million) of the fund's revenues will come from unemployment insurance contributions, while the remaining 1.7 million manat ($1 million) will be generated from other sources.

Of the insurance contributions, 29.8 million manat ($17.5 million) is expected to come from organizations financed by the state budget and from employees of budget-funded organizations, while 207.6 million manat ($122.1 million) is expected to come from contributions paid by the non-budget sector.

An allocation of 50.3 million manat ($29.6 million) from unused funds carried over from previous years is also planned to finance the fund's expenditures in 2027.

One of the main areas of expenditure will be self-employment programs, for which 113 million manat ($66.5 million) is planned.

In addition, 36 million manat ($21.2 million) is earmarked for unemployment insurance payments, 27.3 million manat ($16.1 million) for vocational training and additional education, 1.6 million manat ($941,200) for career guidance services, 500,000 manat ($294,100) for organizing job fairs and labor exchanges, and 3.8 million manat ($2.24 million) for organizing paid public works.

Thus, the fund's expenditures in 2027 will exceed its revenues by 50.3 million manat ($29.6 million). This deficit is planned to be financed from funds carried over from previous years.

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