(MENAFN- Trend News Agency) TBILISI, Georgia, May 4. Samir Sharifov,Azerbaijan's Finance Minister, talked about the possibility ofadjusting the state budget for 2024
Responding to a question from Trend on the sidelines of the annual ADBmeeting in Tbilisi about the possibility of adjusting the budget inlight of the fact that the price of Azerbaijani oil was above $60in the first quarter of this year, the minister noted that nothingcan be ruled out.
"As usual, around mid-year, we review the results of the pastperiod, typically four months. The results are promising, withnoticeable growth in the non-oil sector. Consequently, there areadditional revenues from the oil sector, both from taxes andcustoms duties," he explained.
Sharifov stressed that the current oil prices surpass thebudgeted ones.
"As a result, we'll also consider additional revenues from theoil sector. Besides oil, we also earn from gas. Gas prices in theglobal market fluctuate greatly, sometimes soaring and then sharplyfalling. Lately, we've seen certain gas prices decreasing this, we're currently running specific calculations, as our practice goes, when there are extra revenues, and ifthere's a chance to use them for necessary projects without harmingthe country's macroeconomic stability or medium-term fiscalresilience, decisions are made accordingly. I believe this time,such decisions will probably be made at the appropriate level," heconcluded.
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