Economy, Domestic Economy

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.


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