Foreign Ministry’s Budget Down 10%

The Foreign Ministry’s budget, when converted to foreign currency, is 10% less in the current fiscal year (2021-22) compared with that of last year (2020-21). 
“The current year’s budget also shows a decline of 16% and 30% compared with the fiscal 2019-20 and 2018-19, respectively,” ISNA reported, citing the ministry’s Public Relations Department.
“The ministry’s foreign exchange budget rate was set at 120,000 rials per US dollar in the fiscal 2020-21, while the conversion rate of 224,000 rials has been set in the Budget Law of 2021-22. Accordingly, the ministry’s budget has decreased compared with last fiscal year, despite its increase of 90% in terms of rial, as its expenses are in foreign currency,” the statement read.