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Iranian budget "lacks" $10 billion

Business Materials 12 May 2011 13:27
Iranian budget "lacks" $10 billion

azerbaijan, Baku, 12 May/Trend/

The Iranian public budget will receive $54 billion in revenues after removing subsidies, whilst government expenditure is expected to lack $10 billion, IRNA reported quoting MP Mousaalreza Servati, a member of the Iranian parliamentary budget planning commission, as saying.

The government is to transfer additional funds to private accounts of the country's 72 million citizens - $44 per each.

According to the parliamentary budget commission, the public budget assigns $27 billion in transfers to Iranians, although this cost is estimated at $40 billion, he added.

The parliament allocated approximately $8 billion out of oil revenues to pay cash subsidies to Iranian families and created the opportunity for government to increase price of goods to 20 percent, which promises $5.50 billion in income.

Iran has approved a $508 billion budget bill for current solar year (starts 21 March) that is 40 percent bigger than the one approved last Iranian solar year.

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