Azerbaijan may revise oil price in state budget for 2018
By Trend
The base oil price of $45 a barrel in Azerbaijan's 2018 state
budget, may be raised to $55 a barrel, Azerbaijani MP, member of
the Parliamentary Committee on Economic Policy, Industry and
Entrepreneurship, Ali Masimli said.
He made the remarks at the committee meting on the bill "On
execution of the 2017-state budget of Azerbaijan ".
He stressed that today, the actual price of oil is much higher than
$45 per barrel.
"The state budget can be submitted for discussion in mid 2018. If
we receive such a proposal from the government, I believe the
optimal price will be $55 per barrel," Masimli said.
He went on to say that the issue of financing the increase of
salaries in the country is on the agenda.
"The increase in salaries began in March, in some organizations -
since May. According to initial estimates, additional funds in the
amount of 600 million manats will be needed. The issue can be
resolved through structural changes, raising additional funds or
thanks to a positive difference achieved from the rising oil
prices," he said.
Revenue part of the 2018 state budget is forecast to total 20.127
billion Azerbaijani manats (including centralized revenues in the
amount of 19.473 billion manats, local revenues in the amount of
653.353 million manats), while expenditures are expected to amount
to 21.047 billion manats (including centralized expenditures in the
amount of 20.323 billion manats, local expenditures in the amount
of 723.925 million manats).
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