Next Year's Budget 41% Bigger Than Current Year's

EghtesadOnline: The next fiscal year’s budget bill (March 2019-20) stands at 17,300 trillion rials ($15.04 billion), which puts it 41.5% more than the 12,225 trillion rials ($10.63 billion) approved for the current year.

News ID: ۷۴۶۳۱۸

10 December 2018

The figures were reported by Fars News Agency, which cited a leaked version of the bill submitted to the parliament by the government on Dec. 16.

The bill's in-time submission last week comes as the parliament is in recess until Dec. 16, so discussions on the details of the budget will have to wait till then, according to Financial Tribune.

"The government has taken into account restrictions on resources in drawing up the bill, given the US sanctions against Iran," says deputy head of Plan and Budget Organization, Hamid Reza Pourmohammadi.

“The government has directed special attention to policies designed to improve Iranian people’s livelihood and healthcare, protect producers and create youth employment,” he added.

The Plan and Budget Organization has decided to reduce next year’s budget reliance on oil revenues to 27% and set average oil prices at $54 a barrel, as the country is estimated to sell 1.5 million barrels per day.