President Hassan Rouhani submitted the new budget bill to the parliament earlier this month—a document which, according to him, is indicative of the country’s tenacity and resistance in the face of US sanctions.
The government's operating budget for the upcoming fiscal year indicates an 8% expansion compared with the corresponding figure in the budget law of the current year.
It's noteworthy to consider the inflation in Iran. The Statistical Center of Iran's latest report shows the average goods and services CPI in the 12-month period ending Nov. 21 increased by 41.1% compared with last year’s corresponding period, Financial Tribune reported.
Having said that, the next year's budget will be contractionary.
In view of budget constraints emerging from the imposition of unilateral US sanctions, the government has sought to reduce its spending while increasing its revenue sources.