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Azerbaijani government prepares 3 development scenarios on background of oil price decline


The scenarios have been prepared by taking decline of crude oil price to -60 into account


Taking into account the supposed consequences of global economic risks, as well as decline of crude oil price (Brent) to -60, 3 scenarios have been prepared on key parameters and priorities of the state and consolidated budgets for 2016-2019.

According to Ministry of Finance, the first scenario is optimistic (oil price at ), the second is base (oil price at ) and the third is pessimistic (oil price at ).

On the background of decline of revenues and expenditures of the state and consolidated budget next year, it’s planned to increase productivity of expenditures in state sector, provide priority of social expenditures and defence and security spending, develop leading spheres of agriculture, industry, provide socio-economic development of regions, fulfil government obligations and create opportunities for other public events.

Expenses for stimulation of domestic commodity markets, social defence social security measures, coordination of relevant state programs with mid-term budget expenditures, launch of objects that constructed by state funds will be provided.

APA


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