Economy, Domestic Economy

$17 Billion Earmarked as Capital Budget

$17 Billion Earmarked as Capital Budget$17 Billion Earmarked as Capital Budget

About 700 trillion rials ($16.6 billion), in addition to investments by the private sector, have been earmarked to complete development project in Iran as per the budget bill of the next fiscal (March 2017-18), the deputy president for economic affairs said.  “One of the positive features in the proposed budget bill is the use of a fraction of capital expenditure budget for job creation and optimization of the resources of the National Development Fund of Iran in this regard,” Mohammad Nahavandian was also quoted as saying by IRNA.   There are 27 development projects in Iran, which will take more than 41 years to complete, 44 projects require between 31 and 40 years, 284 projects are to take between 21 and 30 years, 658 projects would last for between 11 and 20 years and 755 projects have no timeline across the country, director general of the Supreme Audit Court of Iran, Adel Azar, told the parliament last month.  “For these projects to become operational, as much as 5,080 trillion rials ($120 billion) are needed at the national level and 490 trillion rials ($11.6 billion) at the provincial level,” he said.


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