Azerbaijani President Ilham Aliyev signed on December 23 decrees on improving reporting structures for the main income of the state budget.
In compliance with amendments to the Charter of the State Oil Company (SOCAR), in addition to the annual financial statements the combined (consolidated) financial statements will be prepared. In addition to financial reports, SOCAR will be, and provide to the Ministry of Taxes - Tax reports and statistical reports will be submitted to the State Statistics Committee. The same report form established for the State Oil Fund of AR (SOFAR). It is noteworthy that the president has reserved the right to appoint an independent auditor SOFAR.
Not later than 30 June to the expiration of the fiscal year SOCAR must disclose on the corporate website and periodicals consolidated financial statements together with the auditor. This report shall be submitted to the Ministry of Finance, if the company or its subsidiaries received loans under government guarantees, or participated in projects for the development of public debt, etc. --08D-
Economics
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Azerbaijan's Economy Minister Mikayil Jabbarov held discussions with Jérôme Beaumont, Executive Secretary of the Egmont Group, a financial intelligence organization, during the COP29 conference.
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November 16 (Reuters) - Azerbaijan’s Minister of Economy, Mikayil Jabbarov, met with Marco Arcelli, CEO of Saudi Arabia’s ACWA Power, during the COP29 climate summit to review the progress of joint projects in renewable energy.
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Azerbaijan's Minister of Economy, Mikayil Jabbarov, held talks with Heather Evans, Deputy Assistant Secretary for Manufacturing at the U.S. International Trade Administration, focusing on bolstering bilateral ties in energy, trade, and green development.
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The process of securing financing for the construction of the Bilasuvar solar power plant with a capacity of 445 MW and the Neftchala solar power plant with a capacity of 315 MW has been successfully completed.
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