REVENUES OF STATE SOCIAL SECURITY FUND INCREASES
Due to relevant actions, revenue forecasts confirmed in the budget for 2003 have been met by 102,6 percent, while the expenditure forecasts – by 102,1 percent.
The revenue in 2003 totaled 1 trillion 854,6 billion manat. It is by 17 percent or 269,4 billion manat more than in 2002. As a part of revenues, the payments for compulsory state social insurance totaled 1 trillion 80 billion manat, thus, the forecast is met by 103,8 percent. Budget assessments amount to 768 billion manat. The shifts of focus on timely collection of payments to compulsory social insurance from non-budget organizations and private sector created conditions to increase the level of these payments in the revenue structure.
The payments to compulsory state social insurance collected for 2003 from non-budget organizations and private sector has totaled 755 billion manat, which is by 37,4 billion manat more than scheduled and by 158,1 billion manat more than in 2002. 325 billion manat came from funds collected from payments of budget-financed organizations.
The increase in revenues of the State Social Security Fund for the year allowed meet the deadlines of financing pensions, allowances, and other social payments. 1 trillion 845,4 billion has been allocated for these targets in 2003.
As part of revenue structure, pensions came to 945,3 billion manat (by 42,7 billion manat more than forecast), allowances assigned for non-working pensioners – 160,2 billion manat, allowances for children and poor families – 175 billion manat, allowances to cover expenses on transport, municipal etc – 107 billion manat, other allowances - 386 billion manat. In addition, to finance the action towards employment and social security of the disabled the main department of employment and social security of the disabled under the Ministry of Labor and Social Security of the Population has transferred 10,5 and 19,3 billion manat respectively, Confederation of Trade Unions to finance the sanatorium-and-spa treatment – 19,5 billion manat, enterprises for pensions and allowance delivery services -14,7 billion manat. 7,9 billion manat is assigned for maintenance of central office and local branches of the fund.
Thus, a firm foundation was laid towards solving the goals confirmed in the Presidential Decree from December 27, 2003 “On ensuring the fulfillment of the law of Azerbaijan Republic “On the budget of the State Social Security Fund of Azerbaijan Republic for 2004””, including the increase the average pension in accordance with the “State Program for poverty reduction and economic development in Azerbaijan Republic for 2003-2005”.
Other news in this section
