Budget bill sees $5.71b less oil revenues

December 23, 2018 - 21:23

TEHRAN- The predicted income from sales of crude oil and oil byproducts in the upcoming Iranian year 1398 (starting March 21, 2019) has decreased about 240 trillion rials (about $5.71 billion) in the modified budget bill, from its previous 1.73 quadrillion rials (about $41.1 billion) to 149 quadrillion rials (about $35.4 billion), Tasnim news agency reported on Sunday.

As reported, the ceiling of the expected credits and expenses in the bill has witnessed a decrease of 270 trillion rials (about $6.4 billion) reaching 4.06 quadrillion rials (about $96.6 billion).

The government was to submit next year’s budget plan to the parliament on December 16 but the issue has been delay due to some required modification.

The Head of Budget and Planning Organization Mohammad Baqer Nobakht announced on Saturday that the budget bill will be submitted to the parliament on December 30, 2018, or January 1, 2019.

As the presidential chief of staff, Mahmoud Vaezi announced a few days ago the predicted expenses have been reduced in the budget bill. “All the expenses except those allocated to Imam Khomeini Relief Foundation, State Welfare Organization of Iran and Civil Servants Pension Organization (C.S.P.O) have been reduced in the bill,” he said.


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