Due to the closure of the Hormuz Strait, Turkey's additional expenses may rise from 13.6 billion dollars to 24 billion dollars depending on the price of oil.
Medianews.az reports that the Minister of Energy and Natural Resources of Turkey, Alparslan Bayraktar, provided this information.
In his statement to journalists, the minister expressed the impact of the crisis on the national economy in figures:
"The crisis may affect us as follows. If the oil price remains at an average level of 100 dollars (per barrel), this means an additional cost of 13.6 billion dollars by the end of the year. If the price is 125 dollars, expenses will increase up to 24 billion dollars. These are purely additional expenses."
According to A. Bayraktar, due to the crisis in the Hormuz Strait, the Turkish treasury may lose tax revenues of approximately 600 billion Turkish lira (approximately 13.3 billion dollars). //Musavat.com