Re: Nagorno-Karabagh: Military Balance Between Armenia & Azerbaijan
Oil prices drop results in economic crisis in Azerbaijan
YEREVAN, OCTOBER 24, ARMENPRESS. The price of the Azerbaijani Azeri LT CIF crude, transported via Georgian ports of Supsa, Batumi and Ceyhan and sold on the world markets, fell by 0,32 USD, or by 0,64%.
“Armenpress” reports that report.az news informs about this, mentioning that the prize for Azeri LT CIF crude oil is $48.83 per barrel.
The lowest price for Azeri LT CIF crude was recorded in 2001 at $19,15 per barrel and the highest price was recorded in 2008 at $149, 66 per barrel.
Natig Jafarli, the executive secretary of Azerbaijani “Republican Alternative” movement told the journalists that 66% of the state-budget depends on crude revenues and the foreign trade depends on crude by 95%.
“Turan” agency says that according to 2015 forecasts budgetary revenues will drop by 20,84%. In 2016, government spending will drop by 22,9%.
World oil prices and Manat exchange rate drop in Azerbaijani resulted in economic crisis: a number of oil companies have closed leaving thousands unemployed.
Oil price is estimated at $90 in 2015 Azerbaijan state budget. Currently, its price is by $41 lower than the foreseen.
Oil prices drop results in economic crisis in Azerbaijan
YEREVAN, OCTOBER 24, ARMENPRESS. The price of the Azerbaijani Azeri LT CIF crude, transported via Georgian ports of Supsa, Batumi and Ceyhan and sold on the world markets, fell by 0,32 USD, or by 0,64%.
“Armenpress” reports that report.az news informs about this, mentioning that the prize for Azeri LT CIF crude oil is $48.83 per barrel.
The lowest price for Azeri LT CIF crude was recorded in 2001 at $19,15 per barrel and the highest price was recorded in 2008 at $149, 66 per barrel.
Natig Jafarli, the executive secretary of Azerbaijani “Republican Alternative” movement told the journalists that 66% of the state-budget depends on crude revenues and the foreign trade depends on crude by 95%.
“Turan” agency says that according to 2015 forecasts budgetary revenues will drop by 20,84%. In 2016, government spending will drop by 22,9%.
World oil prices and Manat exchange rate drop in Azerbaijani resulted in economic crisis: a number of oil companies have closed leaving thousands unemployed.
Oil price is estimated at $90 in 2015 Azerbaijan state budget. Currently, its price is by $41 lower than the foreseen.
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