Azerbaijan, Dec.8
By Fatih Karimov - Trend:
Iran's next year budget bill has envisaged issuing €12.5 billion worth of bonds to be used to finance oil, gas, petrochemicals, and industrial projects, the Mehr News Agency reported on December 8.
The National Iranian Oil Company, the National Iranian Gas Company, and the National Iranian Petrochemical Company will issue €5 billion, €1 billion, and €2 billion, respectively, according to the bill.
It is while more than 40 trillion rials (about $1.6 billion) worth of bonds were sold three years ago to finance South Pars gas field development plan, but none of the phases of the gas field has come on stream yet.
Iran's next year budget bill has set the ceiling budget at 7830 trillion rials (about $315 billion based on the U.S. official exchange rate of 24,850 rials), the Fars News Agency reported on December 8.
The figure shows a 8.4 percent growth year on year.
Meanwhile, the national development budget has been announced to be 1950 trillion rials (about $78 billion), a 240 percent rise compared to the previous year.
Iran's next calendar year starts on March 21, 2014.
The bill has set oil price at $100 per barrel and the U.S. exchange rate at 26,000 rials.
Today, after submitting the budget bill to the parliament (Majlis), President Hassan Rouhani said that the bill contains useful data on ways of providing public services and constructing infrastructures, IRNA reported.
He said the fact his government is just in its first year in the office adds to the importance of the Majlis becoming fully informed about the details and objectives of the proposed budget bill.
"The administration's main concerns are to create jobs, curb runaway inflation and boost economic growth," Rouhani said in his speech at the legislative chamber.