Economy, Domestic Economy
0

Cultural Budget Increases

Cultural Budget IncreasesCultural Budget Increases

The share of cultural projects in the new budget (March 2017-18) has increased from 2.42% to 2.48%, said the government spokesman, Mohammad Baqer Nobakht.

Adding that non-governmental organizations will receive 58% of the cultural budget, Nobakht noted that the cultural budget has increased from 50 trillion rials ($1.33 billion) to 72 trillion rials ($1.92 billion), IRNA reported.

The new budget stands at 11.5 quadrillion rials ($305 billion). It includes 3.98 quadrillion rials ($90.5 billion) earmarked as “general revenues” in addition to a whopping 8 quadrillion rials ($211 billion) to fund state companies, institutions and banks.

The parliament-approved budget needs the final endorsement of the Guardians Council—the body in charge of ascertaining the constitutional and Islamic nature of all laws—before it becomes law.

 

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com