In 2014 State Oil Company of Azerbaijan (SOCAR) has paid taxes to the amount of 1,825,000,000 AZN (about $2.33 billion at the current rate) to the state budget, reported SOCAR’s press office.
“This is a record volume of tax payments by SOCAR to the state budget within a year.”
During 2013 SOCAR has paid to the state budget of Azerbaijan 1,574,473,000 AZN. During last year SOCAR’s tax payments to the state budget increased by 15.9%.
It has been stressed at the session that during 2014 the company fulfilled the forecast of oil and gas production and oil products production.
SOCAR reported that by July 1, 2014 SOCAR’s assets were equal to 24,442,000,000 AZN, 5 times up against July 1, 2015.
SOCAR’s President Rovnag Abdullayev said at the session that in 2015 the company must satisfy the local needs in oil products and gas.
All SOCAR’s departments have been instructed to optimize the costs.—0—
Economics
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Данная инициатива направлена на цифровизацию процессов управления в сфере безопасности пищевых продуктов в Азербайджане, создание более эффективной и прозрачной системы за счет применения современных технологий.
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Azerbaijan’s President Ilham Aliyev has signed a decree confirming an agreement between the governments of Azerbaijan and Russia aimed at boosting transit cargo shipments along the "North-South" international transport corridor.
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Consumer prices in Azerbaijan saw an overall increase of 2.1% in January 2025 compared to the previous month, according to the State Statistical Committee's latest report. Prices for food products rose by 2.4%, with vegetables and fruits among the most significant contributors, marking a 3.7% and 5.6% increase respectively. Non-food products and services saw a more modest rise of 1.1%, with the transportation sector and housing services experiencing slight hikes.
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On February 11, Azerbaijan opened a trade house in Punjab (northeastern Pakistan), an event described as "significant for strengthening bilateral relations between Azerbaijan and Pakistan" by Pakistani media. The opening ceremony, which involved the Finance Minister of Punjab, Mian Mujtaba Shuja-ur-Rehman, was attended by officials and marked an important step in economic collaboration.
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