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Azerbaijani ministry of finance discusses preparation for forecasts of 2010 state budget

Business Materials 10 June 2009 17:17 (UTC +04:00)

Azerbaijan, Baku, June 10 / Trend N. Ismayilova /

Regular meeting of the Azerbaijani ministry of finance's staff discussed preparation of forecasts of state budget-2010, the ministry said on June 10.

Staff discussed issues raised during execution of law on accounting, tasks on improvement of budget process stressed during discussion of law on execution of budget-2008 in the parliament of the country, preparation of forecast of state budget-2010, summary budget and budget for next three years, as well as actions to improve activity of the ministry of finance. 

Income of Azerbaijani budget-2009 was approved in the amount of 12.177 billion manat (including centralized income -11.698 billion manat, local - 0.479 billion manat), or 27.9 percent by GDP; expenditures - 12.355 billion manat (centralized expenditures - 11.095 billion manat, local - 1.259 billion manat), or 28.3 percent by GDP. Upper limit of state budget deficit was approved in the amount of 178 million manat, or 0.4 percent of GDP. Major sources of budget deficit paying off are income from privatization, sale of state loan securities on domestic and foreign market, as well as treasury balance of account as of January 1, 2009.

Forecasts of Azerbaijani state budget-2009 were prepared on the basis of price for oil in the amount of $70 per barrel and exchange rate 0.8 manat to $1. 

On June 10, the official exchange rate is 0.8037 manat to $1.

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