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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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