Economy, Domestic Economy

Transport Budget Up

Transport Budget UpTransport Budget Up

Next year’s budget proposal for the transport sector has increased by 18 percent, deputy minister of roads and urban development Amir Amini said in a news conference in the western province of Lorestan on Thursday. The official who was in Lorestan to tour national road projects said from the total 1.6 trillion rials ($58.1 million based on official exchange rate) allocated to the ministry of roads, 950 billion rials ($34.5 million ) is to be earmarked for expansion and maintenance of roads and the rest will go to the housing sector. The current budget of the ministry stands at $1.07 trillion rials ($38.8 million), he added. Minister of Roads and Urban Development, Abbas Akhundi, earlier announced that the minimum amount required for the development of the national road network is about 1,000 trillion rials ($36.3 billion), adding that road transport projects will receive more financing once a comprehensive nuclear agreement is reached between Iran and the P5+1 (the five permanent members of the UN Security Council plus Germany).