Ilham Shaban: "$10 reduction in the cost of a barrel of oil on the world market reduces Azerbaijan's revenues in the amount of $3 bln"

He noted that the Azerbaijan's revenues are mostly influenced by external factors.

"These are not only world oil prices. For example, this year we have become witnesses of the influence of the military and political situation in the region on the Azerbaijani incomes for the first time. Due to the situation in neighbor Georgia, the oil export in the "western" direction was stopped for almost three weeks, that is the country lost the opportunity to gain more in the pick period of the cost of oil", said he.

According to Ilham Shaban, we have previously observed the influence of weather conditions on the prices of oil (cold weather in winter of 2006, hurricane in the Mexican gulf).

"In the result, by the estimates of the WB bank, the drop in the cost of a barrel of oil on the world market by $10 reduces Azerbaijan's incomes by $3 bln", said Shaban.

/Day.Az/