Minister of Economy: Over the past five years, SOCAR's net profit has more than doubled

Over the past 5 years, the net profit of the State Oil Company of Azerbaijan (SOCAR) has more than doubled.

As reported by BAKU.WS with reference to Oxu.Az, this was stated by the Minister of Economy Mikayil Jabbarov during the discussion of the draft law "On the state budget of the Republic of Azerbaijan for 2026" at the meeting of the Committee on Economic Policy, Industry and Entrepreneurship of the Milli Majlis.

According to him, comments regarding the company's tax payments are erroneous, as this data is open:

"Over the same period, SOCAR's earnings before interest, taxes, and amortization have increased approximately threefold. The company pays various types of taxes. Optimization of state enterprises' activities will always be in the focus of attention of the relevant structures," the minister noted.