Oil prices forecast

It's the end of the year

Azerbaijan revises oil prices forecast in 2012-state budget

Rising oil prices on world markets contributes to increase in the income of the State Oil Fund of Azerbaijan (SOFAZ) additionally by 3.625 billion manat, which will increase incomes of the consolidated budget for 2012 by 19.9 percent, Azerbaijani Finance Minister Samir Sharifov said on Saturday at the meeting of the Parliamentary Committee on economic policy during the debate of the bill on amendments to the state budget of 2012.

“We take into account the new projections for oil prices when projections for revenue on the oil sector change, ” the Minister said. Forecast for oil prices in the state budget is increased from $80 to $100 per barrel of oil.

“As a result of the growth of budget revenues, the consolidated budget expenditures will increase by 705 million manat or 3.5 percent, ” Sharifov said. “Thus, the consolidated budget surplus is projected at 938 million manat, whereas previously it was set with a deficit”.

Under the amendments, revenues and expenditures of the state budget will increase by 600 million manat and amount to 17.038 billion manat, and 17.672 billion manat, respectively. The main reason for adjusting the budget projections is in accordance with the instructions of the President of Azerbaijan, is providing additional funding to cover the damage caused by the earthquake to population and socio-economic infrastructure of Zagatala, Gakh and Balakan regions in the north-west of the country.

Source: Center for Economic and Social Development (CESD)

Gas Price Forecast Gas Price Forecast + Widget
Mobile Application (Gas Price Forecast)
  • Live estimates published every day at noon PST
  • Share information with embedded social media links
  • Predictions are not guaranteed

You might also like:

Wagner on Outlook for Gold, Silver, Oil Prices 2012 Forecast
Wagner on Outlook for Gold, Silver, Oil Prices 2012 Forecast
Using the oil VIX to forecast energy prices
Using the oil VIX to forecast energy prices
Oil prices forecast to rise again -- 09 September 2008
Oil prices forecast to rise again -- 09 September 2008

MAJOR RECESSION COMING !!!

2001-06-10 15:07:20 by worsenotover

Recession: Faith Vs. Facts
By Anirvan Banerji
Special to TheStreet.com
Originally posted at 1:23 PM ET 5/30/01 on RealMoney.com
Eight months ago, recession had already become a real danger ( Call it the Oil Recession ), but I thought it could be averted if interest rates came down quickly enough.
Six months later, even with Fed action, the Economic Cycle Research Institute's array of leading indices had worsened to an extent never seen except before a recession, and I finally forecast one ( An Unavoidable Collision ). Since then, in the face of a rising popular conviction that we had avoided a recession, evidence of a recession has mounted.
In essence, it's been a battle between faith in the Fed on the one hand and the facts on the other, and faith...

Homebuilders: No recovery until 2009

2008-04-25 04:32:03 by netglen



Wishful Thinking?
Economists give tepid outlook for housing prices and construction, which will continue to drag on economy.



NEW YORK (CNNMoney.com) -- The damaged housing and home construction markets will continue to take a beating at least through the end of the year, according to economists who spoke Thursday at a forecast conference sponsored by the National Association of Home Builders.
The economists said the deterioration of the housing market helped the U.S. economy slip into a recession that will continue through June. They said high oil prices will continue to hamper consumer spending, and the ongoing credit crisis will...

Forget Gold, Silver, and Oil. Corn is where the

2011-02-09 10:49:30 by Kool-Aid-Man

Money is.
Corn Opens Limit Up As HFT Robots Parse What "Ninefold Chinese Import Increase" Means In Fortran
It was less than three short days ago that we wrote about what is poised to be an imminent surge in corn prices. To wit, we said: "If revised Chinese import estimates by the US Grain Council are even remotely correct, look for corn prices of $6.80 a bushel at last check to jump by at least 15% in a very short amount of time. As the FT reports, "Corn prices – and with them, the price of meat – are set to explode if the latest import estimates from China are correct. The US Grain Council, the industry body, said late on Thursday that it has received information pointing to Chinese imports as high as 9m...

Revenue growth of SOFAZ in 2012 not to result in cost increase  — Trend.az
"An increase of oil prices forecast in the budget for 2012 to $100 automatically increases the revenues of the oil fund, because we're also counting on the basis of this price, whilst our expenditures remain the same," Movsumov said.

Related posts:

  1. Forex forums
  2. Online share market
  3. Crude oil price forecast