Azerbaijani MPs: reduction in oil prices forecast in budget not to impact project implementation
Azerbaijan, Baku, Feb. 20/ Trend , E. Ismayilova, J. Babayev/
The possible fall in oil prices forecast in the Azerbaijani budget will not impact implementation of large social programs and international projects, parliamentary standing commission on economic policy head Ziyad Samadzade said.
"It will not impact social programs even we fix price at $50 per barrel. No international project will be canceled," Samadzade said.
He said Azerbaijan possesses enough currency reserves to implement programs.
Oil prices have been fixed at $70 in Azerbaijani budget. The oil prices will be reconsidered in May 2009.
"Oil prices were fixed at $70 per barrel previously in accordance with ongoing events. Oil prices may rise as developed countries are taking measures to recover their economies. It will lead to rise in oil demand," Samadzade said.
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