As of preliminary forecasts of the Ministry of Economic Development for 2007 oil prices set in public budget for calculation of budget forecasts will make up $50 per barrel, a government source told Trend. This year the figure was increased from $40 to $50 against $25 last after the necessary corrections.
According to financiers, price for the next year can be established even higher, depending on the state of the market. Experts guess that over the subsequent years a tendency of rise of oil prices will remain.
Head of the Price, economy and credit policy department Oktai Hagverdiyev, supposes that in price formation it will be more expedient to maintain the price set while projecting budget forecasting at $40 per barrel.
He clarified that in any case of rise of oil prices additional revenues flow in the State Oil Fund of Azerbaijan in the centralized order.
According to forecasts of the International Monetary Fund (MF), if export oil prices reach $48.8 the revenues of e State Oil Fund of Azerbaijan will reach $2.2bn this year, while if prices are $46.6 - $6.2bn in 2007, $45.3 - $16.6bn in 2008, $44.5 - $29.2bn in 2009 and $44 - $42.5bn in 2010.