15:59 - 5.11.2025

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November 5, Fineko/abc.az. The Unemployment Insurance Fund (under the Ministry of Labor and Social Protection of the Population) should be renamed the Employment and Unemployment Insurance Fund.

ABC.AZ informs that Vugar Bayramov, a member of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship, made the above-said statement at a joint meeting with the Committee on Labor and Social Policy.

"It is expected that next year Fund's expenses will total 266.4 million manats, of which 77 million manats, or nearly 30%, will be used to organize self-employment events. Unemployment insurance payments will amount to 28 million manats or 10.5% of overall expenses. A significant part of Fund's finances will be used for purposes unrelated to unemployment insurance payments. Given that more finances are allocated to active social programs, changing the name of the fund would be more appropriate to the areas of its activities and philosophy," the MP noted.