Oil revenues share 25% of Iran’s next year budget bill
Baku, Azerbaijan, Dec. 22
By Fatih Karimov- Trend:
The Iranian government has finalized the budget bill for the next Iranian fiscal year (March 2016-2017), government spokesman and head of the Management and Planning Organization Mohammad Baqer Nobakht said.
Oil revenues are forecasted to share 660 trillion rials ( about $22 billion) from 2.67 quadrillion rials ($89 billion) of total incomes in the budget bill, Nobakht said, Iran's State IRINN TV reported Dec. 22.
Iran will set the dollar exchange rate at 29,970 rials in the national budget bill for the next Iranian fiscal year, the official added.
The dollar was set at 28,500 rials in the budget bill for the current Iranian fiscal year.
Nobakht further said that the bill sees the inflation rate and economic growth of the country in the next Iranian fiscal year at 11 percent and 5-6 percent, respectively.
Tax revenues are expected to account for 850 trillion rials of the country's total budget in the next fiscal year, he added.
He said that the government will present the budget bill to the parliament within next two weeks.
Based on a timetable, the budget bill will be submitted to the parliament in the 11th fiscal month of Bahman (January 21-February 20, 2016).
MPs will have 45 days to ratify the budget bill, the source said.