“Social protection encompasses a set of actions financed by the State with the aim to:
- support individuals and families in dealing with vulnerabilities throughout their lifecycle;
- help especially the poor and vulnerable groups to become more resilient against crises and shocks;
- favour social inclusion and support families, particularly the most vulnerable to poverty, in building up their human and social capital through income and consumption smoothing and ensuring their access to basic goods and services; and
- stimulate productive inclusion through the development of capabilities, skills, rights and opportunities for the poor, marginalized and excluded groups, as well as low income workers from the formal sector in order to guarantee that everyone benefits from the economic growth process and becomes engaged in it.
Social protection is an important policy tool to tackle social exclusion, inequality and poverty and to foster inclusive growth. It encompasses social insurance, social assistance as well as labour market and employment policies.”