Baku, Azerbaijan, April 11
By Anvar Mammadov – Trend:
Azerbaijan should continue to pursue an economic policy independent of oil prices, the country’s Finance Minister Samir Sharifov told reporters April 11.
“Today, Azerbaijan tries to pursue its economic policy in such a way that it does not strongly depend on oil prices. When calculating the state budget of Azerbaijan for 2018, we took the price of oil at a level much lower than its current value. I think that Azerbaijan should continue to pursue such a cautious policy,” noted the minister.
The price of oil in the state budget of Azerbaijan is set at $45 per barrel.
World oil prices on Wednesday morning decline after the data on oil reserves from the American Petroleum Institute (API) did not meet the expectations of analysts.
The cost for June futures of the North Sea Brent oil mix decreased by 0.38 percent to $70.77 per barrel, while the price for May futures of West Texas Intermediate (WTI) crude oil decreased by 0.23 percent to $65.36 per barrel.