Azerbaijan to cut spending if oil prices remain low: Aliyev
02.12.2014 17:00
Azerbaijan will revise spending plans for next year if oil prices remain below $90 a barrel, President Ilham Aliyev said.
"We will cut spending on non-priority, infrastructure projects,” Aliyev said in an interview with Rossiya 24 news channel.
Azerbaijan’s state budget for 2015 is based on an oil price of $90 a barrel, down from $100 a barrel for this year.
Aliyev said there is "chaos” in global trends and there is no way to predict exactly how the prices will change.
Azerbaijan is the third largest oil exporter in the former Soviet Union, after Russia and Kazakhstan.
ANN.Az
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