Iran’s president submits next year’s budget bill to parliament
Baku, Azerbaijan, Jan. 17
By Fatih Karimov- Trend:
Iranian President Hassan Rouhani submitted the budget bill for the next Iranian fiscal year, which begins on March 21, 2016, to the parliament.
President Rouhani said that the budget bill has been prepared for the post-sanction period.
He made the remarks in the Iranian parliament while outlining the characteristics of the proposed budget bill, Iran's Fars news agency reported Jan. 17.
The proposed national budget amounts about 9.52 quadrillion rials (each USD makes 30,178 rials), a 13 percent rise year on year. Next year's national budget bill is based on an oil price of $35-40 per barrel and a projected average exchange rate of 29,970 rials to the U.S. dollar for the fiscal year.
About 680 trillion rials of oil revenues are forecasted for next fiscal year, 21.4 percent more compared to the current fiscal year. The total income in the budget bill is forecasted to reach 2.67 quadrillion rials.
The funding for the government was set at 3.07 quadrillion rials.
The administration has allocated 590 trillion rials for the development projects in the next year's budget.
About 850 trillion rials of revenues via taxes are forecasted for the next fiscal year, 13.33 percent more year on year.