Azerbaijan, Baku, May 29/ Trend , I.Khalilova /
Today the strategic currency reserves of Azerbaijan are not subject to any major change and are 1.8-2 times higher than the total state debt, Chairman of the Central Bank of Azerbaijan Elman Rustamov said at the Parliament during the discussions on the 2008 budget execution report.
"Today, world oil prices are at an acceptable level that allows even at current prices to forecast the increase in currency reserves," said Rustamov.
In the worst scenario ($50 per barrel of oil), it was expected that the strategic reserves will remain at the beginning of the year ($18.2 billion). Today, the oil price already exceeds $63 perbarrel.