Forecasts on 2010 public budget submitted to Azerbaijani parliament
Azerbaijan, Baku, Oct. 16 / Trend I.Khalilova /
The Azerbaijani Parliament has received forecast on public and consolidated budget, and the concept of socio-economic development for 2010 and three subsequent years. The Azerbaijani Presidential Administration has kept the public budget forecasts unchanged.
Under the law "On 2010 public budget", in 2010 forecasts on the public budget revenues will amount to 10.015 billion manat (31.5 percent of GDP), including centralized income - 9.552 billion manat and local revenue - 462.98 million manat, and expenses - 11.264 billion manat (35.4 percent of GDP), including centralized expenditures - 10.069 billion manat and local expenditures - 1.194 billion manat.
Limit of the public budget deficit was forecasted at 1.249 billion manat. Four sources are provided to finance the budget deficit: through revenues from state property privatization, domestic and external borrowings, including funds from placing securities abroad, income from the paid services provided by budgetary organizations and the balance on the single treasury account of the public budget for Jan.1, 2010.
The State Oil Fund of Azerbaijan Republic (SOFAZ) is expected to transfer 4.915 billion manat to the public budget.
The maximum limit of the consolidated budget expenditures is forecasted at 12.466 billion manat and revenues at 11.885 billion manat. The deficit of the consolidated budget, excluding revenues of SOFAZ, forecasted at 6.544 billion manat.
The forecasts were made taking into account the oil price at $45 per barrel.
On Oct. 16, the official exchange rate is 0.803 manat to $1.
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