Bank Of Baku

Share of oil sector in Azerbaijan to fall within next 3 years

Share of oil sector in Azerbaijan to fall within next 3 years
# 13 November 2012 11:48 (UTC +04:00)

 

 

Baku. Ali Ahmedov – APA-Economics. Share of oil sector in Azerbaijan will reduce by more than twice within next 3 years, said the Minister of Economic Development Shahin Mustafayev at the discussions on state budget for 2013 in the plenary meeting of parliament: “Share of oil sector within next 3 years will fall to 22.4% from 52.4%”.

 

Mustafayev noted that the share of non-oil sector would increase to 77.6% from 47.6%.

 

Oil base price was considered $100 a barrel for next year, thereafter - $80 a barrel. 

 

Besides, he also spoke about his expectations on exchange rates of national currency against dollar: “Average annual exchange rate of dollar is expected to be 0.785 AZN/USD next year”.

 

 

 

 

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