Azerbaijan, Baku, June 18 / Trend M.Aliyev /
The Azerbaijani parliament adopted amendments to the 2010 state budget today with 98 MPs voting "for" and five MPs voting "against."
Based on the amendments, the budget deficit was reduced from 1,249 billion to 770.3 million manat. As a result, the state budget deficit decreased from 3.9 percent to 2.3 percent of the GDP. Budget revenues increased by 49 billion manat to 11.505 billion. Finance Minister Samir Sharifov said budget expenditures increased by 1.12 billion manat to 12.275 billion manat.
"Dealing with the consequences of the natural disaster that occurred as a result of floods on the Kur and Araz rivers resulted in an increase in budget expenditures," Sharifov added.
As a result of adjustments, the budget price on oil increased from $45 to $60 per barrel.
Parliamentary Economic Policy Committee head Ziyad Samadzade said the change in the oil price led to changes in the budget.
"Based on the indicators of the first four months of 2010, the average price on oil was $75.5 per barrel and it is expected to reach $65-$70 by late 2010," he added.
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