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FinMinister Samir Sharifov: Oil price, considered in the state budget for next year, doesnâ€™t create risk to fulfillment of the budget

15 November 2012 10:17 (UTC +04:00)

Baku. Ali Ahmadov – APA-Economics. Today’s plenary meeting of the Parliament continued the discussions on Azerbaijan’s state budget for 2013. Government officials responded the questions, raised by MPs during former meetings.

FinMinister Samir Sharifov noted that as most of the questions were related to the state of infrastructure in the regions, social and renovation issues, it was impossible to give concrete answers to them in a short time: ‘Within the framework of the programs, confirmed by the President, it is considered to realize huge infrastructure projects and construct social facilities in all the regions of the country’.

To question on existence of the risks as a result of taking base price of oil at $100 per barrel in the budget, the minister said that this issue were several times discussed at meetings of the Parliament’s committees. To him, concrete sum has been considered at the Oil Fund and this money will be transferred to the budget: ‘And it does not depend on oil’s price’.

Ministers thinks that change in oil price can impact only on the amount of profit tax, paid by the foreign consortium.

Moreover, the FinMinister noted that price of oil on world market was always followed by the ministry: ‘We think that at present there are no risks in connection with oil price for fulfillment of state budget’.