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SOCAR transfers over $1.3bn to state budget

Monday, September 16
The deductions of the State Oil Company of Azerbaijan (SOCAR) to the national budget reached AZN 1.049bn ($1.338bn) in January-August this year.

This marks a rise of 14.9% or AZN 136 million from the same period of last year, a source in SOCAR said.

SOCAR has already paid AZN 106.088m to the State Social Protection Fund over eight months this year, a rise of 1.1% or AZN 1.666m more from the same period of last year.

SOCARís transfers to the national budget totaled AZN 1.425bn ($1.819) in 2012.

SOCAR transferred AZN 157,501 to the State Social Insurance Fund last year.