BAKU, Azerbaijan, May 1. The Central Bank of Azerbaijan forecasts the average price of one barrel of oil in 2024 at the level of $85.7, Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said during the press conference on changes in the parameters of the discount rate, Trend reports.
"The average price of one barrel of oil is projected at $83.5 in 2025. In turn, gas prices are forecast at the level of $281 per thousand cubic meters for this year and $299 for the next year," he stressed.
Meanwhile, in the state budget of Azerbaijan, the base price of a barrel of oil is envisaged at the level of $60.
To note, the CBA lowered the discount rate from 7.5 percent to 7.25 percent on May 1. The upper limit of the interest rate corridor was reduced from 8.5 percent to 8.25 percent, while the lower limit was kept unchanged at 6.25 percent.
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