8 groups preparing New budget

8 groups  preparing  New budget8 groups  preparing  New budget

The government has formed eight working groups for preparing the budget for the next fiscal year which starts on March 21, 2015, Vice President Es'haq Jahangiri told in a Supreme Economic Council meeting on Monday.

The ad-hoc committees spent 2,000 hours on formulating the budget, he added.

Jahangiri said the government plans to address water shortage, environmental issues, and the low productivity among other problems in line with the Sixth 5-Year Economic Development Plan.

The former industry minister then presented a report on the budgeting process and also on the preparation of the Sixth 5-Year Development Plan (March 2016-March 2021).

Jahangiri's report highlighted the need for a more realistic view of the country's political and economic outlook among policymakers with regard to regional and international developments.

The government plans to follow the guidelines of the "resistance economy" and involve the private sector in major economic activities, he said.    

In the budgeting process, special attention has been paid to upgrading the financial system and increasing tax revenue through diversifying income sources.         

"We aim to detect and remove the barriers to gaining a competitive advantage in global markets in the next few years," Jahangiri said, asserting that Iran also plans to increase its trade ties with the world.