Oil price fall to influence Azerbaijan only in perspective

The oil price fall in the world market by $10 reduces the revenue of Azerbaijan’s budget. The amount of the loss of revenue makes up about $250 mln.

“However, the current tendency in the world market due to the continuous oil price fall is not a serious problem for Azerbaijan”, a member of the Parliament Committee for Economic Policy, delegate V. Akhmedov said.

Of course oil is the main exported product of the country but our oil reserves make up about 15 bln barrels of oil, so for the state budget the oil price fall is not a serious problem, the delegate thinks.