Azerbaijan, Baku, Feb. 19 / Trend , U.Ismayilova/
Azerbaijani Parliament will revise state budget for 2009 in May, Parliamentary Commission on Economic Policy member Vahid Ahmadov said on Feb. 19.
"In the course of reviewing the budget one of the main issues will be to revise the budget price on oil, which is now set at $70 per barrel," said Ahmadov.
Azerbaijan's budget revenues for 2009 are approved at 12.177 billion manat (including centralized revenues -11.698 billion manat and local revenues - 0.479 billion manat), or 27.9 percent of GDP; expenses - 12.355 billion manat (centralized expenses - 11.095 billion manat and local expenses - 1.259 billion manat), or 28.3 percent of GDP. The upper limit of budget deficit is approved at 178 million manat, or 0.4 percent of GDP. The main budget deficit covering sources are proceeds from privatization and sale of government bonds on domestic and foreign markets, as well as treasury bills remnants as of Jan. 1, 2009.
Price on oil was set up at $70 per barrel and exchange rate at 0.8 manats to one U.S. dollar in the state budget for 2009.
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