News ID: 235454
Published: 1202 GMT December 08, 2018

Official: Next budget bill focuses on Iranians' livelihood amid US sanctions

Official: Next budget bill focuses on Iranians' livelihood amid US sanctions

The head of Iran's Budget and Planning Organization said the budget bill for the next fiscal year that will begin on March 21 has been submitted to the Parliament.

Mohammad Baqer Nobakht said at a press conference to unveil the budget bill to reporters that the government had put a huge amount of energy into developing a "just and transparent bill", reported Press TV.

According to Nobakht, the next year's budget is 12 percent higher than the budget for the current fiscal year (which began on March 21), adding that it envisages a total spending of around 433 quadrillion rials ($103 billion) from various sources including taxes, divesting state-run shares and oil sales.

Meanwhile, the proposed budget bill expects a 27-percent dependence on oil revenues and forecasts 1.5 million barrels of oil sales per day at $54 per barrel. It also requires the government to allocate $14 billion (at the exchange rate of 42,000 rials) to supply basic goods to back Iranians' livelihood amid the unilateral US sanctions. To this end, it also mandates the allocation of 1.42 quadrillion rials for subsidies either as cash or in the form of basic goods to qualified Iranians.

Deputy Head of Iran's Budget and Planning Organization Hamid Poormohammadi, who accompanied Nobakht in the conference, said that the bill was mainly focused on Iranian's livelihood, domestic production, and support for the environment and advance in science.

On Monday, Nobakht said the planners of the bill took into consideration some major points including reducing the pressure posed by US sanctions on Iranians' lives, supplying basic goods, and paying specific attention to domestic production sector and job creation.

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