Pres. to submit budget bill of almost $100b on Dec. 4

EghtesadOnline: President Hassan Rouhani on Thursday announced the budget bill for the next Iranian fiscal year of 1396 (March 21, 2017-March 20, 2018) is 3,200,000 billion rials (about 100 billion dollars).

News ID: ۷۷۱۸۸۴

04 December 2016

President Rouhani said in a ceremony, held to unveil the budget bill, that the bill will be tabled at Majlis on Sunday, December 4.
The president said the administration will allocate 600,000 billion rials for development projects and the budget is hoped to be met, IRNA reported.
He added that the budget pays special attention to five sectors, including employment, water, sewage treatment, environment and railway, as they will be government priority in the next year and government approach in the Sixth Five-Year Economic Development Plan (2016-21) will be in their favor.
The president said good gesture has been taken in the oil and gas sectors and as of late last year, when the JCPOA was in force, oil and gas condensate output started upward growth and following recent OPEC decision for 1.2 million barrels output cut, oil price will start increasing.
According to the Chief Executive, the amount of production reduction and share of the members in the OPEC output cut are clear. 'However, the Islamic Republic of Iran which lagged behind due to sanctions, has been excluded from the rule and will add up to its production as of the next months.'
'Under such conditions, oil price will naturally increase. The budget of 320 billion rials has hence been predicted and planned.'
Elsewhere in his remarks, the president put number of active workforce at 1.2 million and said it lays a heavy burden on the officials.
Based on the statistics available, jobs have been created for 714,000 of the group but about 500,000 of them are still unemployed, said president, adding that on this basis the unemployment rate will keep growing.