сOREANDA-NEWS. June 07, 2010. A bill with amendments and additions to the Law on State Budget 2010 drafted by the Ministry of Finance of Azerbaijan bases itself on increased forecast of oil export price in 2010.

Governmental sources say that when raising the forecast form the previous level of USD 40 per barrel the government managed to avoid such extremes as forecast at the level of USD 50 or USD 70 and above.

“It was passed average level of the forecast that will enable to avoid threat of volatility of prices at world raw material markets and solve challenges before economy,” a source said.

In 2010 Azeri oil has not been traded yet at less than USD 70 per barrel.

The budget correcting bill will be considered by Milli Majlis already this week or next week at the worst.

The bill contains increase of expenditure part of the budget that can be considered comparatively not large taking into account scale of natural disaster that demanded budget changes.

The budget amendments are linked with the necessity to liquidate consequences of flood in Kura-Arax river lowland that will demand at least 400 million mantas of unforeseen expenditures.