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

Feb 28 2015 - 14:31
A US Congressman from New Jersey, Donald Payne, had issued a statement in connection with the 23rd anniversary of the Khojaly tragedy. 
Feb 27 2015 - 21:29
Berlin held the third symposium on stability and security in the South Caucasus on February 26, dedicated to the Khojaly tragedy.Many high-ranking politicians attend the symposium every year, it has turned into a fixed German platform for regular talks about regional problems of the South Caucasus.The event organized by the German-Azerbaijani Forum, Azerbaijani embassy in Germany, SOCAR and the German-Atlantic Society has been participated by about 20 members of the German parliament, many diplomats and economic figures.
Feb 27 2015 - 20:05
According to amendments to the Criminal Code discussed by the Azerbaijani parliament at the plenary session, disclosure of secret information without treachery will be punished with 3-6 years of jail (currently 2-5 years) and a ban from state service for 3 years, Trend reports.Should the disclosure lead to grave consequences, the punishment may be 4-8 years (currently 3-7 years) with a ban from state service for 5 years.
Feb 27 2015 - 16:17
President of Azerbaijan Ilham Aliyev has received the credentials of the newly-appointed Ambassador Extraordinary and Plenipotentiary of the Republic of Poland Marek Calka.  In a conversation with the ambassador, Aliyev noted the successful development of their bilateral relations. The head of state said there were good opportunities for cooperation in various areas, including in the political, economic, energy and humanitarian spheres. 
Feb 27 2015 - 14:10
The so-called parliamentary elections, planned to be held in the Nagorno-Karabakh region of the Republic of Azerbaijan on May 3, 2015, are illegal, spokesman for the Azerbaijani foreign ministry Hikmet Hajiyev said today.  “The holding of the elections is a clear violation of the Constitution of the Republic of Azerbaijan. These elections are aimed at undermining the negotiating process on the Nagorno-Karabakh conflict settlement,” Trend cited Hajiyev.
Feb 27 2015 - 13:13
President of Azerbaijan Ilham Aliyev has ordered the establishment of the Mingechavir High Technology Park.  Mingechavir Park, on a territory of 1.3 ha, will conduct scientific research and development work to develop and improve high technology and innovative products.  
Feb 27 2015 - 12:48
A March of Peace, dedicated to the 70th anniversary of Victory in the Great Patriotic War, will leave Moscow for Jerusalem on March 1.  The purpose of the peacemaking pilgrimage, that will cover dozens of cities and several countries, is to attract world attention to the dangerous escalation of tensions in the international arena and the need for an active struggle against extremism, nationalism and fascism in different regions of the world, including in Ukraine and the Middle East. 

Archive