Base price of oil in 2016 state and consolidated budgets makes $50

Base price of oil in 2016 state and consolidated budgets makes $50
# 14 September 2015 14:30 (UTC +04:00)

According to the Ministry, taking into account the forecasts of international financial organizations and instability in oil price, the sale price of crude oil in the state and consolidated budgets makes $50 a barrel.

International Monetary Fund forecasts annual average price of oil at $58 in 2015, $61 in 2016, World Bank forecasts at $58 and $63, and the US Energy Information Administration forecasts at $54 and $59.

For calculation of budget receipts and expenditures in foreign currency, exchange rate of USD is at AZN 1.05.

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