Development plans to see 79% budget rise next year

March 13, 2018 - 17:0

TEHRAN- The national budget bill for the next Iranian calendar year, starting March 21, has envisaged 79 percent more budget for development projects, the government spokesman announced.

In a press conference on Tuesday, Mohammad Baqer Nobakht said the coming year’s budget for development projects is 334.54 trillion rials (about $7.43 billion), while the figure was 186.43 trillion rials (about $4.14 billion) for the present year, IRNA reported.

The Iranian parliament (Majlis) on February 22 approved a 12.175-quadrillion-rial (about $270.55 billion) national budget bill for the next Iranian calendar year.

On December 10, 2017, President Hassan Rouhani presented the administration’s draft of the national budget bill to the Majlis. 

The bill was rejected on January 28 during the open session of the parliament with 83 votes in favor, 120 votes against and 9 abstentions, media reported.

Then the bill was returned to a joint parliamentary committee for revisions. The joint commission is a legislative body responsible for reviewing budget bills as well as the five-year development plans.

After revision, the public resources in the budget bill increased by 14.3 percent to 4.43 quadrillion rials (about $98.44 billion), from 4.25 quadrillion rials (about $94.44 billion) of the previous proposed bill.


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