During 11 months State Oil Company of Azerbaijan (SOCAR) paid 1,487,412,000 AZN to the state budget, up 199,509,000 AZN or 15.5% against the same period last year.
SOCAR press office reported that in November 2013 SOCAR paid 163,344,000 AZN to the state budget. This is the best showing this year.
From January to November 2013 SOCAR had paid 147,765,000 AZN to the State Social Security Fund, up 3,198,000 AZN or 2.2% against the same period last year.
During 2012 SOCAR’s tax payments to the state budget totaled 1,425,027,000 AZN, while to the Social Fund’s budget – 157,501,000 AZN.
This year number of SOCAR’s employees decreased by almost 10,000 people, but despite that SOCAR’s social payments increased by over 3,000,000 AZN.—0—
Economics
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This year, Azerbaijan has experienced a significant increase in passenger traffic: from January to November, 3,230,224 travelers arrived from 41 countries, marking a 32.9% increase compared to the same period last year. This growth, reported by the State Tourism Agency, underscores the country’s rising prominence as a regional tourism hub, particularly against the backdrop of ongoing restrictions on crossing land borders.
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The Azerbaijani government anticipates fluctuations in the production of propylene, a key raw material for plastics and related products, in the coming years. According to the country's socio-economic development forecasts for 2025-2028, production levels are expected to vary, reflecting the complexity of the chemical sector and its links to broader energy markets.
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Kazakhstan has achieved significant growth along the Trans-Caspian International Transport Route (TITR), with cargo volumes increasing by 68% and container shipments soaring 2.7 times during the first 10 months of 2024. These figures, announced by Kazakhstan's Minister of Transport Marat Kabaev during a regional development meeting in the Mangystau region, highlight the crucial role of the Middle Corridor in connecting China with Europe.
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On December 9, Azerbaijani President Ilham Aliyev signed a decree approving the protocol of amendments to the Agreement on Strategic Partnership for the Development and Transmission of Green Energy. The agreement, involving Azerbaijan, Georgia, Romania, and Hungary, aims to strengthen cooperation in sustainable energy across the region.
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