Amendments to the 2018 State Budget in Azerbaijan: Back to the oil boom period?

Amendments to the 2018 State Budget in Azerbaijan: Back to the oil boom period? As expected, in the 2nd week of June, the Azerbaijani government started to revise the state budget and make amendments to it. It should be noted that the higher-than-expected prices of hydrocarbon products in global markets have created a basis for the revision of the state budget, a practice frequently seen in the Azerbaijani experience. The main points relevant to public... Read More

Crude Oil Price in the 2016 state budget will decline by 45.0 %

Crude Oil Price in the 2016 state budget will decline by 45.0 % The Ministry of Finance of Azerbaijan has started drafting State Budget 2016. The Ministry has reported that with taking into account events at the world energy market, in particular declining trends in oil prices, the State Budget oil price will be set at the level of $50 US per barrel. The price of crude oil in 2016 state budget will be decreased by 45.0 % since it is $ 90 US per barrel... Read More