Budgetary Inflation Imperative

The 70% increase in value added tax, the change in its calculation basis for imports and the rise in fuel prices for industries have inflated the fiscal 2022-23 budget, said the head of the Research Center of Iran Chamber of Commerce, Industries, Mines and Agriculture. 
President Ebrahim Raisi submitted the fiscal 2022-23 budget bill to parliament on Dec. 12 and the Iranian Parliament approved the bill’s outlines on Sunday. 
The Majlis Joint Commission examining the budget’s details is a parliamentary body responsible for reviewing the budget bill as well as five-year development plans proposed by the government before it is put to a legislative vote.