16:50 - 20.11.2024

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November 20, Fineko/abc.az. Azerbaijan has provided reserve measures in case of falling oil prices at world markets.

ABC.AZ reports that Finance Minister Samir Sharifov said this during the discussion of the budget package for next year.

He noted that in case of lower oil prices, budget revenues through the State Tax Service will be reduced by 340 million manats.

According to the minister, the impact on the revenues of the State Oil Fund will be more significant, amounting to 2.1 billion manats.

The minister said that in the current year's budget, the price of oil was increased from $60 to $75.

"The next year, we took this price $5 lower. If the price of oil decreases, we have backup measures to counteract these negative consequences," Sharifov said.