In January and February 2016 SOCAR has transferred 215,882,000 AZN to the state budget ($132.4 million at the current rate), SOCAR told Turan.
In January and February 2015 SOCAR’s transfers to the state budget of Azerbaijan totaled 226,729,000 AZN ($251.9 million at the average rate then).
In February 2016 SOCAR transferred 98.2 million AZN to the state budget (108,227,000 AZN in February 2015).
In February 2016 SOCAR transferred 10,922,000 AZN to the State Social Security Fund (11,534,000 AZN a year ago). In January and February 2016 SOCAR’s transfers to the Social Security Fund totaled 21.05 million AZN (23,465,000 AZN during the same period last year).—0—
Economics
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The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
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In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
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The shareholders of JSC "Saba" (Səba) have scheduled an extraordinary general meeting for October 28 at 15:00, where the main agenda item will be the liquidation of the joint-stock company and the formation of a liquidation commission, according to company announcements.
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