$41.5 Million for Tech Sector in Iran’s 2019-20 Budget

EghtesadOnline: The next fiscal budget (March 2019-29) has allocated 5.4 trillion rials ($41.5million) for the Vice Presidential Office for Science and Technology, up 11% compared to the funds made available in the outgoing year.

News ID: ۷۴۶۹۳۲

16 March 2019

According to IRNA, the initial budget bill had proposed 3 trillion rials ($23million) for the office, which was down 34% in comparison to the current year's 4.77 trillion rials ($36.6million).

The lower budget unleashed complaints from technology experts. They voiced concern over the possible negative impact that the reduced funding would have on the key scientific and technology sectors.

Saeed Sarkar, general secretary of Iran Nanotechnology Innovation Council, affiliated to the Vice Presidential Office, was of the opinion that cutting funds would hurt gains made so far in nano-science and technology R&D, according to Financial Tribune.

To revise the budget, talks were held between representatives from the Vice Presidential Office and the lawmakers.

Alireza Daliri, a deputy at the Vice Presidential Office, told reporters Thursday that the Majlis has modified the budget bill increasing the amount to 5.4 trillion rials ($41.5million).

As per the 2019-20 budget general revenues in the budget bill is projected at 4.07 quadrillion rials ($31.3 billion), up 5.44% compared to the budget for the current fiscal.