The decline in oil prices to $ 60 per barrel will not create problems for Azerbaijan’s state budget in 2015, according to Finance Minister Samir Sharifov.
He said this on Tuesday, presenting the draft budget for 2015 in the parliament.
The draft budget presumes the pricing of $ 90 per barrel. This is $12 higher than the current average price of oil in the world market, he said.
At the same time, despite the decline in oil prices by 20% in the last three months, the expenditure of the state budget of Azerbaijan for 2015 is no problem, Sharifov promised.
He believes that further price reductions will have no serious obstacles to financing the expenditure.
Sharifov believes that the drop in oil prices is temporary and there is little reason for long-term preservation of low prices.
