The price of 1 barrel of oil will amount to 50 dollars in the 2023 state budget, APA reports citing the draft law "On the 2023 state budget of the Republic of Azerbaijan".
The document states that the growth of non-oil revenues in the state budget allows reducing of the transfer from the State Oil Fund to the state budget. In 2023, the transfer from the State Oil Fund to the state budget is envisaged at 11.3 billion manats, which is 237.5 million manats less than in 2022. Considering the volatility of oil prices in the commodity markets, based on a more cautious approach, the price of one barrel of oil was taken equal to 50 US dollars in the state budget prepared for 2023.
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