IN RUSSIAN

Azerbaijan expects additional $6 billion from oil sales

23 May 2011 - 1:56pm

Oil prices per barrel rose from $60 to $80. Azerbaijan expects an additional 5 billion mantas from oil sales in 2011, Trend reports.


The Accounts Chamber said that adjustments to the law on state budget of Azerbaijan in 2011 will give 770 million mantas to the state budget and 3,500-4,000 to the State Oil Fund.


The oil prices in January-April 2011 exceeded $100 per barrel. Currency reserves will stay at $30 billion after all transfers are realized by the fund. SOCAR transfers are expected to be at 9.18 billion mantas in 2011, rising by 41.7% (2.7 billion mantas), compared to forecasts, making 59% of budget income.


The committees for economic and social policy of the Azerbaijani Parliament recommended amendments to the budget of 2011.


Finances Minister Samir Sharifov said that the high oil prices have been exceeding the planned budget price by 80% for a long time. Additional income reached 976.4 million mantas, compared with the planned 193.5 million in 2011. Additional income reached 1.1 billion mantas.


The state budget expects 3.684 billion mantas of extra income.


The currency rate on May 23 is 0.79 AZN/USD.

Read also

Jul 30 2014 - 17:20
 Relations between Russia and Azerbaijan have to be fruitful and successful, since the republic of Azerbaijan plays an important role not only in the South Caucasus but also in Russia's relations with Turkey and Iran
Jul 29 2014 - 16:31
Azerbaijani President Ilham Aliyev and his Armenian counterpart Serzh Sargsyan may meet in New York soon, US Ambassador to Armenia John Heffern said today, while commenting on increased tensions on the Azerbaijani-Armenian front line.
Jul 29 2014 - 13:28
The Azerbaijani Defense Ministry said that the IRCC car recently attacked on the Armenian-Azerbaijani border was used as a target for provocation, APA reports.The ministry reminded that the Armenian military continued attacks on the Azerbaijani army along the frontline. According to the ministry, the ceasefire regime was violated about 500 times in just 10 days. Villages in the Tovuz and the Gazakh districts were under intensive fire. There were civilian victims.
Jul 26 2014 - 13:24
Georgia is going to limit the period during which Azerbaijani and Armenian nationals are allowed to stay in the country without a visa, the head of the Georgian Foreign Ministry's Consulate Department, Georgy Tabatadze, has said at a special briefing.
Jul 25 2014 - 10:48
Vladimir Zhirinovsky, the leader of the LDPR, said on Vesti 24 TV yesterday that Russian media should stop focusing on coverage of negative events abroad, especially in Ukraine, and should make more reports about positive developments in friendly countries, such as Azerbaijan. In his words, Azerbaijan was developing villages, building new complexes, including sports facilities. Zhirinovsky explained that the success of Azerbaijan was a result of its leader Ilham Aliyev and his father Heydar Aliyev.

Archive