Iranian parliament approves generalities of budget bill

Iranian parliament approves generalities of budget bill

Baku, Azerbaijan, Apr. 10

By Fatih Karimov - Trend:

The Iranian parliament approved general outlines of the national budget bill for the current Iranian fiscal year, which started March 20.

The bill was approved on April 10 by 135 MPs voted in favor, 37 against, and 6 abstained, Iran's Mehr news agency reported.

The US dollar is 29,970 rials in the budget bill, while it is sold at 34,900 rials in the free market.

The ceiling of the current year budget was 2.67 quadrillion rials once initially presented to the parliament by President Hassan Rouhani, however the parliament increased the figure to 2.92 quadrillion in rials..

The bill envisages 52.8 trillion rials increase for the country's military budget.

The budget is set based on revenues from 2.25 mbpd crude oil export, meanwhile every barrel of oil will be sold at 40 dollars.

President Hassan Rouhani introduced the budget bill for next fiscal year to the parliament in January, a month and a half later than he did in first and second years of his presidency.

When the proposed budget was handed to parliament, Ali Larijani, the parliament speaker called on the government to come up with two twelfth plan instead because the legislative body wouldn't have enough time to handle the full yearly budget bill.

After that the government submitted a two twelfth budget bill, which was approved by parliament last March.

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