Expenses for unemployment compensation grow by MNT 3.9 billionSociety
Ulaanbaatar /MONTSAME/. As of the first quarter of 2020, there were 831,900 people, who pay social insurance contributions in Mongolia. Compared with the same period of the previous year, the number decreased by 1,500.
As of March 2020, the unemployment insurance fund’s revenue amounted to MNT 8.8 billion and MNT 12.9 billion was spent as unemployment insurance benefits for 5.3 thousand people. The unemployment insurance fund provides compensation to the social insurance contribution payers in the event of resignation or dismissal.
Compared with the same period of the previous year, the revenue decreased by MNT 1.9 billion and expenditures increased by MNT 3.9 billion.
In January 2020, some MNT 4.9 billion was paid from the unemployment insurance fund for unemployment insurance benefits to around 2,000 people, reports the Social Insurance General Office.