Baku: Azerbaijan’s Accounts Chamber has developed a draft law concerning the State Social Protection Fund (SSPF) and the Unemployment Insurance Fund (UIF). This was revealed by Chairman Vugar Gulmammadov during discussions on the ‘Azerbaijan Republic’s 2026 State Budget Envelope’ held at a joint meeting of the Committees on Labor and Social Policy, Economic Policy, Industry, and Entrepreneurship of the Milli Majlis.

According to Azeri-Press News Agency, Chairman Gulmammadov pointed out that the concept of transfers allocated from the budget is no longer applicable. Instead, the phrase ‘the state’s obligation to the State Social Protection Fund’ is now in use. This shift is part of the ‘Azerbaijan Republic’s 2022-2026 Socio-Economic Development Strategy,’ which aims to define the state’s obligation within the pension system. The ministry is expected to implement operational measures next year to achieve this goal.

Gulmammadov emphasized that outdated expressions such as ‘the share of the state budget in the Fund’s expenditures’ should be replaced. The Accounts Chamber has prepared a draft to address the structuring and monitoring requirements of the SSPF and UIF. This draft aims to align with the provisions of the Law ‘On the Budget System.’ The Chamber intends to present this draft to parliament and integrate it into the legal requirements of the budget system in collaboration with the ministry in the future. The ultimate goal is to ensure that the draft law complies with the necessary normative legal acts.