The Azerbaijani parliament approved the draft forecasts on 2010 public budget, the consolidated budget and socio-economic concept for 2010 and subsequent three year by 101 votes in favor and 8 against.

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.

Limits to the public budget deficit were forecast at 1.249 billion manat. Four sources are provided to finance the budget deficit - via revenues from state property privatization and domestic and external loans.

The State Oil Fund of the Azerbaijan Republic is expected to transfer 4.915 billion manat to the public budget.

The maximum limit of the consolidated budget expenditures is forecasted at 12.486 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 Nov. 26, the official exchange rate is 0.8024 manat to $1.