Oil Ministry gets green light to build 300,000-bpd petro-refineries

TEHRAN – Based on the national budget bill for the next Iranian calendar year (begins on March 21), Oil Ministry has been authorized to use various resources including private sector and foreign investments to construct petro-refineries with a total capacity of 300,000 barrels per day.

$114m allocated to unfinished cultural, artistic projects

TEHRAN –Some 30 trillion rials (over $114 million) has been allocated to the semi-finished arts and culture-related projects, the culture minister has announced. 

ICCIMA criticizes national budget bill for next Iranian year

TEHRAN – Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has criticized several aspects of the government’s proposed budget bill for the next Iranian calendar year (begins on March 21), ICCIMA portal reported.

Govt. gets Parliament’s approval for eliminating subsidized forex rate

TEHRAN – Iranian Parliament on Sunday approved the general outlines of the national budget bill for the next Iranian calendar year (begins on March 21), allowing the government to eliminate the subsidized foreign currency exchange rate.

Food, agriculture share of budget bill discussed at TCCIMA meeting

TEHRAN – The Agricultural Committee of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) in its 11th meeting discussed the share of the food and agriculture sectors in the national budget bill for the next Iranian calendar year (begins on March 21).

Tourism ministry budget expected to rise 54%

TEHRAN – The national budget bill for the next Iranian calendar year (starting on March 21, 2022) has proposed 20.147 trillion rials (around $511 million at the fixed official rate of 42,000 rials per dollar) for the Ministry of Cultural Heritage, Tourism, and Handicrafts.

Next year’s budget bill to be submitted to parliament on schedule

TEHRAN - Head of Iran’s Planning and Budget Organization (PBO) has said the budget bill for the next Iranian calendar year (starts on March 21, 2022) has been prepared and reviewed by the government and will be submitted to the parliament on schedule, IRIB reported.

‘Next year’s budget bill will not face any deficits’

TEHRAN - The head of Iran’s Planning and Budget Organization (PBO) has said the national budget bill for the next Iranian calendar year (starts in March 2022) has been prepared in a way that it will not face any deficits, IRIB reported.

‘Macroeconomic indicators to be focused in drafting next budget bill’

TEHRAN - The head of Iran’s Planning and Budget Organization (PBO) has said his organization is going to target macroeconomic indicators in drafting the next fiscal year’s national budget, ILNA reported.

PBO intends to amend next year’s budget structure

TEHRAN – The head of Iran’s Planning and Budget Organization (PBO) has said his organization is going to change the structure of the next fiscal year’s national budget for the better, following the guidelines of the Leader of the Islamic Revolution Seyyed Ali Khamenei on the matter.

Iran could face a $71b budget deficit in current fiscal year: MP

TEHRAN – Head of the Iranian Parliament’s Economic Committee has said the country could face up to three quadrillion rials (about $71.4 billion) of budget deficit in the current Iranian calendar year (ends on March 21, 2022), Mehr News Agency reported on Sunday.

President forwards budget bill amendments for execution

TEHRAN – Iranian President Seyyed Ebrahim Raisi has announced the current Iranian calendar year’s (started on March 20) amended national budget bill to be implemented by the Planning and Budget Organization (PBO), IRNA reported.

Majlis approves amended national budget bill

TEHRAN- During an open session of Majlis (Iranian parliament) on Tuesday, the MPs approved the amended national budget bill for the coming Iranian calendar year (begins on March 20).

Majlis wraps up reviewing next year's budget bill

TEHRAN - Iranian parliament’s budget review committee on Saturday evening wrapped up its final session for reviewing the details of the national budget bill for the next Iranian calendar year 1400, which starts on March 21, 2021, the spokesman of the committee announced.

Majlis sets NDF share of oil incomes in budget bill at 38%

TEHRAN – Iranian parliament on Sunday stipulated that the share of National Development Fund (NDF) from the country’s oil and gas export revenues in the newly amended budget bill for the next Iranian calendar year 1400 (starts on March 20) must be 38 percent if crude oil exports surpass one million barrels per day (bpd).

Education budget up by 72.5%

TEHRAN – The Ministry of Education will receive a budget of 1.1 quadrillion rials (nearly $26 billion) as proposed in the national budget bill for the next calendar year (starting on March 20), an increase of 72.5 percent compared to the current year.

Majlis rejects general outlines of budget bill

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.

Some $1.7b proposed for corona-affected tourism businesses

TEHRAN – The national budget bill for the next calendar year (starting on March 20) has proposed 70 trillion rials (about $1.7 billion at the official exchange rate of 42,000 rials per dollar) to support tourism businesses affected by the coronavirus pandemic.

Special education budget rises by 35%

TEHRAN – The budget of the Special Education Organization has increased by 35 percent in the national budget bill for the next calendar year (starting on March 20), Seyed Javad Hosseini, head of the Organization, has announced.

By Faranak Bakhtiari

Biotechnology budget rises almost 50%

TEHRAN – The national budget bill for the next Iranian calendar year (starting on March 20) has proposed 4 trillion rials (around $95 million at the official rate of 42,000 rials) for biotechnology, a 47.8 percent increase compared to the current year’s budget.

Parliament’s committee approves general outlines of next year’s budget bill

TEHRAN - Iranian parliament’s ad hoc budget review committee on Tuesday evening approved the general outlines of the national budget bill for the next Iranian calendar year 1400, which starts on March 21, 2021.

A fragile budget

TEHRAN- President Rouhani Submitted the latest government Budget Bill to the Iranian parliament. Iran’s 2021 budget with 53% growth compared to the previous year, has broken the record of budget growth in recent decades.

ICCIMA offers suggestions to amend next year’s budget bill

TEHRAN – Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Research Center, after examining the strengths and weaknesses of the budget bill for the next Iranian calendar year of 1400 (begins on March 21, 2021), has proposed eight practical suggestions to amend the bill.

School renovation budget rises by 21%

TEHRAN – The national budget bill for the next [Iranian calendar] year (March 2021-March 2022) has foreseen a 21-percent rise for the renovation and retrofit of schools.