$76 Billion for Creating 1m Jobs

As per the budget bill of the next fiscal year (starting March 21), the government will allocate a total of 3,270 trillion rials ($76 billion) to create more than 1.03 million jobs, the government spokesman said.

“Out of the total sum, 734 trillion rials ($17.06 billion) will be spent on job-generating manufacturing projects and 2,543 trillion rials ($59.13 billion) will be spent on development projects,” Mehr News Agency also quoted Mohammad Baqer Nobakht as saying.

Nobakht added that 174 trillion rials ($4.04 billion) of the budget for the manufacturing projects are to be provided from public budget resources by increasing fuel prices, 150 trillion rials ($3.48 billion) out of the National Development Fund of Iran, 350 trillion rials ($8.13 billion) from bank loans and 60 trillion rials ($1.39 billion) from the resources of “Rural Employment Support and Expansion”.