Economy, Domestic Economy

Budget Bill Outlines Approved

Budget Bill Outlines Approved Budget Bill Outlines Approved

The Iranian Parliament on Sunday approved the general outlines of the budget bill for the new Iranian year (started March 20) in a strong majority vote, IRNA reported. President Hassan Rouhani submitted the bill prepared by the government to the parliament on January 17, a day after the UN nuclear agency confirmed that Iran had complied with its commitment to limit its nuclear program.  The proposed general budget, not including state-owned enterprises, totals 2,670 trillion rials ($76.7 billion at current market exchange rate), which shows a 13.1% increase compared to the previous year in rial terms. Oil revenues will make up less than 25% of the bill, down from 33% in the preceding budget.