Base oil price to be increased in 2018 state budget

Tue 12 June 2018 12:56 GMT | 16:56 Local Time

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The base oil price of $45 a barrel in Azerbaijan's 2018 state budget is planned to be raised to $55.

As a result, it’s planned to transfer AZN 1,750,000,000 of AZN 5,600,000,000 additional receipts, expected to go to SOFAZ by the year-end, to the state budget, increase income forecast of State Customs Committee by AZN 725 million, increase the off-budgetary incomes of budget-funded organizations by ANZ 35 million, use AZN 31 million of single treasury account of the state budget as of January 1, 2018.

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