Azerbaijan: 65-dollar oil price assumed in macroeconomic forecasts, deputy minister says

Azerbaijan's Deputy Minister of Economy Sahib Alakbarov said that forecasts were prepared with external economic risks in mind, and that the baseline scenario assumed an oil price of $65 per barrel. The approach aims to preserve macroeconomic stability and protect the state budget from external price shocks.

According to AZERTAC, Alakbarov made the remarks at a joint meeting of the Labour and Social Policy Committee and the Economic Policy, Industry and Entrepreneurship Committee of the Milli Majlis, during discussion of the draft law on the State Social Protection Fund's 2027 budget. He said measures are being carried out, in line with instructions from the head of state, to support entrepreneurship, improve the investment climate, expand industrial infrastructure and promote exports. New mechanisms include subsidising business loan interest rates and compensating export costs.

Alakbarov also said minimum social standards for 2027–2030 are forecast on the basis of the subsistence minimum, the minimum wage, the needs criterion, and the minimum amounts of social benefits and pensions, in accordance with approved rules.