In the state budget of Azerbaijan for 2024, social security expenditures have been increased

The draft state budget for 2024 plans to allocate 4542.2 million manats for expenses on social protection and social security, which is 226.3 million manats or 5.2 percent more than in 2023, and 1077.8 million manats or 31.1 percent more than in 2022. As APA reports, this was reflected in the presentation by the Ministry of Finance of the draft state and consolidated budgets for 2024.

The share of expenditures on social security and social security in the composition of state budget expenditures will be 12.4 percent (0.6 percentage points more than in 2023), and the share in GDP will be 3.8 percent (0.2 percentage points more than in 2023). points more than in 2023).

Compared to 2020, the share of these expenses in the state budget expenditures is 0.6 percentage points, and in absolute terms – 1429.6 million manats, or 45.9 percent more.

To improve the income generation and well-being of the population, reduce poverty levels, strengthen social protection of low-income families, especially socially vulnerable groups, and financial support for other social activities, the draft state budget for 2024 provides funds in the amount of 2630.7 million manats, which is 649 6 million manats or 32.8 million manats more than in 2023, this is a lot of percent.

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