Iranian MPs Pass $104.6b General Budget

The Iranian Parliament on Sunday passed Iran’s general budget for the upcoming new year (March 2017-18).  The lawmakers put the figure at 3.98 quadrillion rials ($104.6 billion).

The general budget includes revenues of ministries and state institutions, which amount to 516.3 trillion rials ($13.5 billion), IRNA reported.

In the budget law of the current Iranian year (March 2016-17), the figure stood at 3.35 quadrillion rials ($88 billion), which is about 19% less compared to the new budget’s figure.

The parliament has been intensively reviewing the budget bill proposed by the government in December as the Iranian yearend draws closer. The MPs’ votes need the final endorsement of the Guardians Council—the body in charge of ascertaining the constitutional and Islamic nature of all laws—before it becomes law.