Iranian parliament approves next year’s budget bill
Baku, Azerbaijan, Jan. 29
By Umid Niayesh - Trend:
Iranian parliament approved Iran's national budget bill for the next Iranian calendar year 1393, which starts on March 21, 2014, Iranian Tasnim news portal reported on Jan. 29.
The budget bill envisages economic growth at 3 percent and an inflation rate of 21 percent for the next Iranian calendar year.
On December 8, 2013, Iranian President Hassan Rouhani presented the administration's draft of the national budget bill to the parliament.
The proposed national budget amounts to about 7.83 quadrillion rials (about $315 billion based on the official exchange rate of 24,850 rials), an 8.4 percent rise year on year. Next year's national budget is based on an oil price of $100 per barrel and a projected average exchange rate of 26,000 rials to the U.S. dollar for the fiscal year.
The funding for running the government increased by 240 trillion rials (about $9.6 billion) and was set at 1.95 quadrillion rials (about $78.4 billion).
The country is forecasted to export one million barrels of oil per day and 297 million barrels of gas condensates in the next year.
Edited by C.N.