Baku, Azerbaijan, Feb. 17
By Fatih Karimov - Trend:
Members of the Iranian parliament voted for limiting foreign finance to $35 billion in the next Iranian fiscal year, which starts on March 21.
Government, private, and cooperative organizations can use foreign finance in plans which meet technical, economical, and environmental requirements, Iran's Fars news agency reported on Feb. 17.
A report by the Iranian Central Bank reveals that the country has experienced lower foreign investment in the previous Iranian year, 1392 (March 21, 2012 to March 20, 2013.
Foreign investment has been unstable in the past few years, the report adds. In the Iranian fiscal year 1390, Iran attracted 53,130 billion rials. ($1 US equals 27600 rials) The number increased to 119,310 billion rials the next year, but plunged to 76,900 billion rials the following year.
On Feb. 15, the Iranian parliament approved the general outlines of the national budget bill for the next Iranian fiscal year.
The national budget amounts about 8.24 quadrillion rials (about $294 billion), a 4 percent rise year on year. Next year's national budget bill is based on an oil price of $72 per barrel and a projected average exchange rate of 28,500 rials to the US dollar for the fiscal year.
Edited by CN