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Oil price increase create problems

By Messenger Staff
Wednesday, April 20
Oil exporting countries like Azerbaijan, Kazakhstan, Russia and others which were not adversely affected by the recent unrest in the Middle East and North Africa, in fact they received high profits from the situation which caused a worldwide rise in the price of oil. This improves the economic situation in those countries and brings extra oil dollars into the state budget and improves the budgetary balance. On the other hand, the increase in the price has resulted in an increase in the price of various commodities such as food, energy carriers and creates extra risks for the importer countries in the post soviet countries like Armenia, Georgia, Kyrgyzstan, Moldova, Tajikistan, and Ukraine. Some analysts worldwide are expressing concern over the situation.