Oil price set at $40 a barrel in Azerbaijan’s 2017 budget (UPDATE)
Details added (first version posted at 11:58)
Baku, Azerbaijan, Sept. 26
Oil price has been set at $40 per barrel in Azerbaijan’s draft 2017 state budget, Samir Sharifov, the country’s finance minister, told reporters in Baku Sept. 26.
The minister said that the state budget expenses will be reduced in 2017.
"We must bring our expenses in line with our revenues,” he said. “As our revenues greatly decreased, the policy will be also tightened regarding the expenses.”
“The priority will be given to the necessary expenses,” he added. “The measures will be taken to optimize and reduce expenses."