12:54 - 5.12.2018

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December 5, Fineko/abc.az. The fall in oil prices creates certain risks for the State Budget of Azerbaijan in 2019.

Finance Minister Samir Sharifov has stated that revenues from profit tax, in particular revenues from the Azerbaijan International Operating Company (AMOC) and the State Oil Company of Azerbaijan (SOCAR), depend on oil prices.

"In other cases, the budget is factually insured," the minister said.

He added that with the oil price of $60 the assets of the State Oil Fund of Azerbaijan (Sofaz) will grow by $2.5 bn this year. If oil prices are below the set level, for example, at the level of $45, the Sofaz assets will not change by the end of the year compared to the results of last year.

"We’re talking about assets in the amount of $45 bn. By the end of the year, certain growth of assets is expected," the minister said.