During 6 months, 2012 SOCAR paid 674,092,000 AZN to the state budget. The payments increased by 126,145,000 AZN or 23% against the same period last year, reported SOCAR press office.
During this period SOCAR also transferred 77,768,000 to the Social Security Fund. The payments increased by 12,324,000 or 18.8% against the same period last year.
SOCAR has increased payments owing to two factors: high oil prices at the world markets and SOCAR’s additional incomes from the Baku-Tbilisi-Ceyhan pipeline operation. Earlier the dividends were transferred to the accounts of the State Oil Fund.—0-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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