РђZERBAIJAN TO INCREASE OIL PRICE FORECASTS IN BUDGET UP TO RECORDвЂ"BREAKING LEVEL
The Ministry of Economic Development (MED) of Azerbaijan submitted the macro-economic forecast for 2006 to the Cabinet of Ministers, the Minister of Economic Development Farhad Aliyev told journalists, Trend reports. According to him, according to macro-economic indicators, the government plans in 2006 the record-breaking level of the forecasted budget price of $35 per barrel.
Earlier, according to the initial 2006 budget forecast, the oil price was supposed at the level, similar to the budget forecast of 2005 - $ 25 per barrel.
The tendency for budget forecast increase of the oil price is going on for some years, particularly, in 2003 this indicator was $19,5 per barrel, in 2004 - $22 per barrel, in 2005 - $25 for barrel.
With all these, even the forecast indicator at $35 for barrel is much lower of the actual oil prices indicator. By 1 August the price of AZERI LT CIF was $60,90/barrel (one of the record вЂ"breaking indicators). The price for URAL (EX-NOVO) on 1 August was $55,81/barrel.