Oil price in Azeri budget to be set at $60
The price of oil envisioned in Azerbaijan’s budget
is being raised to $60 a barrel, Finance Minister Samir Sharifov
said.
He told the parliamentary committee on economic policy Wednesday that the price had been set at $45 in the country’s state budget for this year, however, crude prices in world markets have not fallen below $75 in January-May 2010.
The minister said the increase to be reflected in the planned budgetary amendments will bring additional 490 million manats ($612 million) to the state budget, while revenues of the State Oil Fund (SOFAR) will rise 2.7 billion manats ($3.375bn).*
He told the parliamentary committee on economic policy Wednesday that the price had been set at $45 in the country’s state budget for this year, however, crude prices in world markets have not fallen below $75 in January-May 2010.
The minister said the increase to be reflected in the planned budgetary amendments will bring additional 490 million manats ($612 million) to the state budget, while revenues of the State Oil Fund (SOFAR) will rise 2.7 billion manats ($3.375bn).*
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