News ID: 277633
Published: 0437 GMT December 02, 2020

Next Iranian year’s budget bill submitted to Parliament

Next Iranian year’s budget bill submitted to Parliament
IRNA

Vice President for Parliamentary Affairs Hossein-Ali Amiri submitted the draft of the national budget bill for the next Iranian year to Parliament on Wednesday.

The proposed budget amounted to about 24.3 quadrillion rials (about $580 billion at the official rate of 42,000 rials per dollar), with a 20 percent rise from the current year’s budget, IRNA reported.

The bill has envisaged public resources and expenditures, the budget of state-run companies as well as the budget for various government bodies.

Supplying basic goods, treatment, and medical equipment; securing livelihoods; supporting production and employment; promoting and supporting non-oil exports and knowledge-based companies are the focal points of the bill.

The bill has estimated the government’s budget at 9.2 quadrillion rials (about $221.3 billion), with an increase of 47 percent over the figure for the current year.

It has envisaged 3.1 quadrillion rials (about $75.5 billion) of incomes, with 6.3 quadrillion rials (about $151.6 billion) of expenses.

Revenues from exporting oil, gas and gas condensate are estimated at 1.19 quadrillion rials (about $28.3 billion), up 323 percent from 454.9 trillion rials (about $10.8 billion), approved in the current year’s budget.

The bill estimates the oil presales of 700 trillion rials (about $16.6 billion).

The Oil Ministry will be authorized to issue $3 billion in Islamic oil bonds.

As in the current year’s budget, next year’s proposed budget requires the government to pay 20 percent of its oil, gas, and gas condensate revenues to the National Development Fund (NDF).

The submitted bill has envisaged the allocation of €100 million from the NDF reserves to the implementation of projects for drinking-water supply to rural areas.

It has also allocated 15 trillion rials (about $357 million) to supplying gas to rural regions and completing the unfinished gas supply projects.

The bill has allocated 50 trillion rials (about $1.1 billion) to the completion of housing projects.

Tax incomes are predicted to be 2.4 quadrillion rials (about $58.8 billion), rising from 1.9 quadrillion rials (about $46.4 billion) envisaged in the present year’s budget.

The budget bill for the next Iranian year will be printed and distributed among Members of Parliament after its presentation, and they will have 10 days to submit their proposals and reviews on the budget to specialized committees.

The specialized committees will also have 15 days to submit their reviews to a Parliament ad-hoc budget review committee.

The committee is a body consisting of MPs from different committees which is established each year to study the national budget bill.

 

 

   
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