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Iran's parliament approves budget for purchase of medicine

Business Materials 23 February 2021 09:50
Iran's parliament approves budget for purchase of medicine

BAKU, Azerbaijan, Feb.23

Trend:

Iranian MP's have approved the assignment of $8 billion for the purchase of necessary commodities and medicine for the new Iranian year (starts March 21, 2021).

Members of the parliament have approved the following article for assignment of $8 billion based on official foreign currency rate of 42,000 rials for import of necessary commodities, medicine, and medical equipment during the open session to review the budget plan for the new Iranian year (starts March 21, 2021), Trend reports citing Fars News Agency.

The government and other organizations including the Central Bank of Iran are only allowed to assign, sell, barter, or trade foreign currency resources from oil, gas, and gas condensate export revenues for import of medicine and necessary commodities up to $8 billion based on the official foreign currency rate.

The government is obligated to gradually increase the preferential foreign currency rate based on economic, social, and international situations until it reaches the rate of the forex ETS.

The revenues would be used for supplying medicine and medical equipment, and the necessary commodities that are livestock inputs.

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