Official: Iran may raise monthly wages of labourers by 20-25 per cent

Business Materials 11 March 2013 13:11 (UTC +04:00)

Azerbaijan, Baku, Mar.11/ Trend G.Mehdi/

The monthly wages of labourers in Iran may be increased by 20-25 per cent in the next Iranian calendar year which starts on March 21, the IRNA quoted labour and social welfare acting minister Asadollah Abbasi as saying.

The exact figure will be set today he said, adding that the rise in wages will be proportional to the rise in the inflation rate.

Iran's parliament has approved the forecasts of the state budget for the first quarter of next year (starting on March 21). According to it, the yield of the state budget has been approved to the amount of 450 trillion rials (about $36.7 billion),ISNA agency said.

Iran's administration has presented a draft consolidated budget for the following calendar year to the amount of 7.300 trillion rials (about $595.4 billion). The revenues of the state budget are projected at $ 1.640 trillion rials ($133.8 billion).

The budget package has been prepared considering the effects of international economic sanctions, so that the reliance of the national budget on oil revenues has been reduced.
According to the bill, salaries of civil servants and cash subsidies will be increased during the next year. Special plans have also been prepared to rapidly decrease the inflation rate.