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Iran’s budget bill forecasts $90 barrel of oil

Iran Materials 11 January 2012 15:20 (UTC +04:00)

Azerbaijan, Baku, Jan. 11 Trend M. Moezzi

Iran's budget for 2012-2013 is likely to be finalised with a price of $85 to $90 per barrel of oil and at 12,000 rials to the dollar; Mehr news agency reported a member of parliament as saying.

At a meeting on Tuesday night Rahim Mombini, a deputy at President Ahmadinejad's Directorate for Planning and Strategic Supervision, told members of Iran's Majlis (parliament) the budget bill for next year (Iran's solar year ends in March) was ready.

The only issue that prevented the budget from being sent to the Majlis is setting the price per barrel of oil and for the dollar. Both must be approved by the cabinet.

At the Tuesday night meeting with members of the Majlis Planning and Budget Commission Mr. Mombini gave a range of $85 to $90 as the price being considered per barrel of oil and at 12,000 rials to the dollar.

The president's office was to send the budget to the Majlis in December, but has yet to do so.

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