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                                        Volume. 11918

Iranian MPs approve next year’s $319b budget bill
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c_330_235_16777215_0_http___172.19.100.100_images_stories_famous_02_majles.jpgTEHRAN – The Iranian Majlis approved a 7.93-quadrillion-rial (about $319 billion) national budget bill for the next Iranian calendar year on Sunday.
 
On May 27, 2013, Iranian President Hassan Rouhani presented the administration’s draft of the national budget bill for the next Iranian calendar year 1393, which starts on March 21, 2014, to the Majlis. 
 
The proposed national budget amounted to about 7.83 quadrillion rials (about $315 billion), an 8.4 percent rise year on year. 
 
Next year’s national budget is based on an oil price of $100 per barrel and a projected average exchange rate of 26,000 rials to the U.S. dollar for the fiscal year.   
The funding for running the government increased by 240 trillion rials (about $9.6 billion) and was set at 1.95 quadrillion rials (about $78.4 billion).  
 
The draft national budget estimates crude oil production and exports at about 3.3 million barrels per day and 1.5 million barrels per day, respectively.

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