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Heydar Asadov: Oil price drop causes no problem in state budget

Heydar Asadov: Oil price drop causes no problem in state budget

16 October 2009 17:04 (UTC +04:00)

Baku. Rashad Suleymanov - APA-ECONOMICS. The fall in oil prices did not cause any problems for the 2009state budget of Azerbaijan, said Heydar Asadov, chairman of the Accounting Chamber of Azerbaijan.

According to him, in the budget investment spending on some projects were reduced, and these funds were sent to the reserve.

"That is why there are no special problems although the average oil price was slightly above $50,â€ he added.

In his words, this year the Chamber intends to submit to the Government more than 20 proposals, including proposals on the budget classification, closing gaps in laws, improving the control mechanism etc.

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