Economy, Domestic Economy
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Iran Parliament Disapproves Proposed Budget Bill

Iran Parliament Disapproves Proposed Budget Bill Iran Parliament Disapproves Proposed Budget Bill

The Majlis on Sunday disapproved the outlines of the proposed budget for the upcoming fiscal year (March 2018-19). 

A total of 120 lawmakers voted against while 83 were in favor of the figures proposed by the Majlis Joint Commission, while nine MPs abstained, IRNA reported.

Majlis Speaker Ali Larijani said the joint commission has 72 hours to revise the bill and present it to the chamber, the Islamic Consultative Assembly News Agency (ICANA) reported.

The joint commission is a parliamentary body responsible for reviewing the budget bill as well as the five-year economic development plans proposed by the government before its final ratification. President Hassan Rouhani presented the  budget bill to parliament on Dec. 10.

Among key amendments proposed by the commission to the budget bill were keeping gasoline price unchanged, setting average oil prices at $55 a barrel and fixing the official rate of the US dollar at 35,000 rials, freezing salaries of authorities, setting the ceiling for pay increases at 18%, banning any increase in tariffs, duties and costs of services provided by organizations of the executive branch and tax exemption for monthly wages below  23 million rials ($522) for civil servants and 18 million rials ($409) for guilds. 

According to Larijani, the commission has only one opportunity to review the budget bill and the revised bill will be discussed on February 3.

 

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