The State Oil Company of Azerbaijan Republic (SOCAR), which has an overall income of 51.9 billion manat, has 35.3 billion manat liabilities for 2016.
According to economist Zohrab Ismayil, the amount of liabilities is too high for SOCAR, contact.az reports. It is informed that the report was published too late, and only in English. The company should have done that several months ago and the report should have been made public in Azerbaijani, he noted.
''If we look at our liabilities, the current liabilities make up 18.4 billion manat, while the short term ones—16.9 manat. Among the current liabilities, part of the current payments of short- and long-term debts makes up 6.7 billion manat. The long-term debts make up 8.2 billion manat. At the same time, the long-term liabilities are included in the immediate tax debts in the amount of 1,3 billion manat,'' he noted.
Referring to the report, the economist said that in 2017 SOCAR should return 6.7 billion manat, while 8.2 billion manat should be returned in 2019-2030.