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Iranian parliament approves general outlines of budget bill amendment

Business Materials 23 October 2013 14:21 (UTC +04:00)

Azerbaijan, Baku, Oct.16/ Trend F.Karimov/

The Iranian parliament (Majlis) today approved the general outlines of the current year's budget bill amendment, IRNA reported.

The Majlis approved the current year's 7.270 quadrillion rials budget bill, which is about $295 billion based on the official USD rate where a dollar equals 24,900 rials.

According to the experts, some income figures including predicted tax, customs and oil export revenues in the budget will not be realised.

In mid-August, ISNA quoted First Vice President Eshaq Jahangiri as saying Iran's current year budget will be revised because one third of government income recognised in the budget would not be realised.

In July, economic advisor to President, Mohammad Bagher Nobakht, said the current year's budget is too optimistic so the next administration should revise it.

Conservative MP Ahmad Tavakoli had said the current year's budget is not realistic and may result in even higher inflation.

Predicted incomes of the Iran's current year's budget have been realised to 52.8 per cent during the last Iranian calendar month (July 23- August 22), Iranian President Hassan Rouhani said, IRNA news agency reported.

Rouhani recalled that the country is facing a massive budget deficit, adding the current year's budget proposed by the previous administration is unrealistic.

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