IMF names breakeven oil price for Azerbaijan in 2021

The fiscal breakeven oil price for Azerbaijan in 2021 will be $82.5 per barrel, in 2022 - $66.4 per barrel, according to the regional review of the International Monetary Fund (IMF) for the countries of the Middle East and Central Asia, Report informs.

In 2020, this figure was equal to $65 per barrel.

In addition, the IMF predicts that the external breakeven oil price for Azerbaijan will reach $98.6 per barrel in 2021 and $98 per barrel in 2022 ($69.5 per barrel in 2020).

In the state budget of Azerbaijan for 2021, the oil price is set at $40 per barrel.

The IMF also expects oil exports from Azerbaijan to decline from 0.58 million barrels per day in 2020 to 0.54 million barrels per day in 2021 and to 0.5 million barrels per day in 2022.

The growth of Azerbaijan's non-oil GDP in 2021 will amount to 3.5 percent, and in 2022 it will slow down to 2.5 percent, according to the IMF. At the same time, in general, the growth of Azerbaijan's GDP in 2021 will be 2.3 percent, and in 2022 it will slow down to 1.7 percent.