This June the State Oil Company of Azerbaijan (SOCAR) increased its transfers to the State Budget and payments to the State Social Protection Fund (SSPF) versus May 2017.

The SOCAR reports that last month the Company transferred AZN 115.7 million to the State Budget versus AZN 139,586 million in May (this year’s still best index) and AZN 11.8 million the State Social Protection Fund against AZN 12.945 million in May and AZN 13.247 million in April (the best index).

Transfers for 2017 still AZN 785.6 million to the State Budget and AZN 74.28 million to the SSPF. In 2016 the Company paid AZN 1.395 bn to the State Budget and AZN 144.417 million to the SSPF.

SOCAR’s total payments to the state for June 2017 reached AZN 127.556 million versus AZN 152.5 million in May (this year’s best index) and AZN 155.369 million in August 2016 (last year’s best index). In the current year SOCAR total payments are still estimated at the level of AZN 859.89 million and in 2016 the indicator reached AZN 1.439 bn.

In 2015 the Company paid AZN 1.48 bn to the State Budget and AZN 139.29 million to the SSPF.

In 2015 SOCAR’s best payments to the state were carried out in July (AZN 145.525 million) and the worst payments in February (AZN 108.227 million).

The best month on payments to the Pension Fund was December 2015 (AZN 12.688 million) and the worst - January (AZN 10.128 million).

In 2015 the Company paid to the state AZN 1.619 bn and the best month was July (AZN 156.698 million) and the worst one – December (AZN 88.008 million).

It should be noted that the record level of total payments to the state was registered in December 2009 – AZN 544.524 million.

Fineko/abc, 10.07.2017