“There are certain criteria in the law, after which the adjustment should be carried out, but we do not see them for now,” said the minister. “Oil price was set at $90 per barrel while forecasting the state budget for 2015, but already after the fall in oil prices, it became clear that this figure is somewhat overpriced. Surely it will affect the revenue side of the budget. But the direct damage to the state budget is not so great. But of course the drop in oil prices has a negative impact on the balance of payments of the country.”
He went on to add that the government of the country is taking some steps in this direction. “We plan to make better use of the budget,” said Sharifov. “At the same time, we are planning to slow down the implementation of investment projects, that is to postpone some projects until next year.”
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