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Iranian parliament enforces $461 billion budget act

Business Materials 20 May 2012 16:45 (UTC +04:00)

Azerbaijan, Baku, May 20/ Trend F.Milad/

The Iranian parliament (Majlis) enforced on Sunday the current calendar year's 5.66 quadrillion rials (approximately $461 billion) budget act, a member of the parliament said.

Mousarreza Servati told the Fars News Agency that the budget act has been ratified by the Guardian Council and instructed to the administration.

The budget bill was approved on May 17. President Mahmoud Ahmadinejad presented the administration's draft of the national budget bill for the current year to the Majlis on February 1.

The Integration Committee of the Majlis has approved dollar price to be set at 12,260 rials in the current year's budget bill. The Industry Committee of the Majlis has also approved $85 oil price in drafting the bill.

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