Majlis releases draft of revised budget bill for next year

March 4, 2020 - 14:44

TEHRAN – Iranian parliament’s ad hoc budget review committee has released the revised version of the administration’s budget bill for the next Iranian calendar year (starting March 20), after the Leader of Islamic Revolution Ayatollah Ali Khamenei approved the parliament’s request for taking necessary actions on the matter.

As reported by IRIB, the new draft which is amounted at 20.176 quadrillion rials (about $480.3 billion at the official rate of 42,000 rials), has been referred to the Guardian Council for final approval.

The new bill is nearly 216 trillion rials ($5.14 billion) more than the administration’s bill.

A member of the parliament's presiding board announced on Tuesday that Majlis had received two “state decrees” by Leader of the Islamic Revolution Ayatollah Ali Khamenei concerning the next year's budget and the Agriculture Ministry which is now run by a caretaker minister.

President Hassan Rouhani presented the administration’s draft of the 19.88 quadrillion rials (about $473.3 billion at the official rate of 42,000 rials) budget bill in early December 2019, however, in late February, Majlis rejected general outlines of the national budget bill stating that the bill is not compatible with the country’s current economic conditions.

A parliament ad hoc budget review committee (known as Talfiq committee) was then tasked with reviewing the administration’s bill.

Talfiaq Committee is a body consisting of MPs from different committees which is established each year to study the national budget bill.

The committee’s report which was submitted to the parliament on March 2, was then referred to the regulations deputy for further considerations and assessment.

The parliament has now directly referred the revised budget bill to the Guardian Council for the final assessments and approval.

EF/MA

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