State budget may hit $16bn
Azerbaijan's state budget is expected to increase in mid-2008,
as the oil-rich country's revenues are rising due to soaring world
crude prices, a parliament member said.
Vahid Ahmadov, a member of the parliamentary commission on economic
policy, told reporters that this year's budgetary funds amounted to
$12 billion and might reach $15-16 billion.
Oil is currently selling in world markets for $109.72 a barrel,
while Azerbaijan's Azeri Light brand stands at $107.69.
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