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Azerbaijan to reduce public investment program costs in 2010

Azerbaijan to reduce public investment program costs in 2010

21 October 2009 13:51 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. Azerbaijanâ€™s state budget blueprint for 2010 envisages a drop in state investment program costs, said Finance Minister Samir Sharifov.

â€œExpenses will be lower in 2010 because undertaken projects will be completed and new projects will be prioritized,â€ he added.

He also added that the 2010 draft budget will be built on the oil price forecast of $45 per barrel, compared to $70 in this yearâ€™s budget.

"Although oil price ranges between $70 and $80, it is changeable. The state budget revenue canâ€™t be based on fluctuating figures. The oil revenue forecast at $45 per barrel makes it possible to meet the budget expenses",â€ he added.

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