News ID: 139880
Published: 0256 GMT April 19, 2016

Parliament approves current year budget bill

Parliament approves current year budget bill

The Iranian Parliament on Tuesday approved a $97 billion budget for the current year (March 20, 2016-March 20, 2017).

The budget was approved by 152 votes in favor, 24 votes against and five absents, IRNA reported.

The new budget allows the government to set the price of oil at $40 a barrel and to export 2.25 million barrels per day.

The MPs got involved in studying the budget bill since last Sunday and ended the study after 11 sessions in eight days.

The government said that the delay to present the budget plan to the parliament was due to the ambiguity in the oil prices and it was determined at 40 dollars a barrel.

The bill needs ratification by the Guardian Council to become law.

 

   
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