Oil Prices Affect Deductions from SOCAR to State Budget and State Social Protection Fund
In January-July the State Oil Company (SOCAR) transferred to the state budget 874 million 255 thousand AZN (minus 21.77% over the same period last year).
As the head of the leading economic structure of Azerbaijan, Rovnag Abdullayev told reporters, it is a natural phenomenon in the background of more than two-fold decrease in stock prices of oil. According to him, the company also declined contributions to the State Social Protection Fund (minus 3.04%), reaching 80,957,000 AZN in January-July.
In connection with the situation on the world oil market, according to him, the price of oil in the state budget for next year should not exceed $ 50-55 per barrel. Recall performance of the state budget for this fiscal year was formed at the level of the oil price at $ 90. --17D-
Economics
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