Majlis rejects general outlines of budget bill

February 2, 2021 - 15:21

TEHRAN – The Iranian parliament (Majlis) on Tuesday rejected general outlines of the national budget bill for the next Iranian calendar year 1400, which starts on March 21, ILNA reported.

The bill was rejected during the open session of the parliament with 99 votes in favor, 148 votes against, and 12 abstentions.

On December 2, 2020, Vice President for Parliamentary Affairs Hossein-Ali Amiri submitted the administration’s draft of the national budget bill for the next Iranian calendar year to the Majlis.

The proposed budget amounted to about 24.357 quadrillion rials (about $579.928 billion at the official rate of 42,000 rials), with a 20-percent rise from the current year’s approved budget.

The bill has estimated the government’s budget at 9.298 quadrillion rials (about $221.38 billion), with an increase of 47 percent from the figure of the current year.

It has envisaged 3.175 quadrillion rials (about $75.595 billion) of incomes, while 6.37 quadrillion rials (about $151.666 billion) of expenses.

Revenues from exporting oil, gas, and gas condensate are estimated at 1.199 quadrillion rials (about $10.83 billion), up 323 percent from 454.9 trillion rials (about $10.83 billion), approved in the current year’s budget.

Supplying basic goods, treatment, and medical equipment; securing livelihood; supporting production and employment; promoting and supporting non-oil exports and knowledge-based companies are the focal points of the bill.

EF/MA

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