Azerbaijani official: Oil prices could reach $60 per barrel in 2011 budget
Azerbaijan, Baku, Aug. 31 / Trend N.Ismayilova /
The price of oil marked in the 2011 state budget could reach $60 per barrel, Azerbaijani Deputy Finance Minister Azer Bayramov told Trend today.
"Based on the Economic Development Ministry's forecasts in August, the price per barrel in next year's budget will reach $60," he said.
According to Bayramov, budget preparations for 2011 are nearing the final stage. A draft document will be submitted to the Cabinet of Ministers in September, Bayramov added.
"The final figures for revenues and expenditures are now under discussion," he said.
The actual budget revenue hit 4.922 billion manat (25 percent of the GDP) in the first half of 2010, which is 1.3 percent more than during the same period of 2009. Budget expenditures fell by 3.6 percent to 4.2767 billion manat (17.7 percent of the GDP). The budget surplus for January-June wa6s 46 million manat, which accounted for 3.3 percent of the GDP.
Do you have any feedback? Contact our journalist at: [email protected]