Domestic Economy

Iran: Private Sector Proposes Government Budget Reforms

Recommendations put forward by TCCIM include reforming subsidies, reducing the budget of public companies and scrapping the allocation of subsidized foreign currency for imports
Iran: Private Sector Proposes Government Budget ReformsIran: Private Sector Proposes Government Budget Reforms

Tehran Chamber of Commerce, Industries, Mines and Agriculture has put forward three specific proposals for the government to carry out a structural overhaul of its budget. 
The heads of three branches of power (executive, judiciary, legislative) approved on Saturday the four main outlines of an initiative to improve budgeting and help reduce the country’s dependence on oil revenues. 
“Institutional bolstering of budget, improving spending efficiency, generating sustainable revenue growth and achieving macroeconomic stability and sustainable development are the main pivots of reforms that will be introduced to the budget within nine packages,” the head of Plan and Budget Organization, Mohammad Baqer Nobakht, wrote on Twitter.
“Each package will feature short-, medium- and long-term plans and recommendations that will be weighed by special task forces from three branches of power; the Supreme Council of Economic Coordination will then be briefed on the developments,” he added.


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