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Azerbaijan may adjust state budget after mid-year

Azerbaijan may adjust state budget after mid-year

28 January 2009 15:53 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA-Economics. Azerbaijan may amend the 2009 state budget blueprint based on the new forecast for the average price of oil amid tumbling oil prices on the world markets, said Shahmar Movsumov, Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ).
He added that the low prices of oil on markets affect the revenue inflow.
â€œThe amendment to the budget may happen in mid or near end of the year. This issue is not on the agenda today,â€ he added.
Azerbaijanâ€™s state budget was built on revenue estimates of oil priced at US$70 a barrel for 2009.

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