News ID: 318407
Published: 0417 GMT December 01, 2021

Government to present deficit-free budget bill: Raeisi

Government to present deficit-free budget bill: Raeisi

Economic Desk

President Seyyed Ebrahim Raeisi said Wednesday that his government seeks to draw up a draft budget for the next Iranian calendar year (starting March 21, 2022) with “minimum flaws and deficit”.

“We are trying to put forward a budget bill for next year that would have minimum flaws and deficit, and be able to stipulate acceptable economic growth by curbing inflation,” Raeisi told Parliament during a joint meeting of his cabinet members and lawmakers.

He said the government will soon bring what he called a “justice-oriented” spending bill before the legislative chamber for review and ratification.

The president asked the lawmakers to share their comments with the government before the bill is submitted.

Raeisi said the Plan and Budget Organization, a governmental body tasked with preparing the budget bill, pursues a policy under which it advances the drafting through consultation with experts, especially members of related parliamentary committees.

Iran is currently experiencing an inflation rate of 44.4%, mainly due to a sharp drop in public revenues that was fueled by tough US sanctions.

The sanctions, reimposed in 2018 following the US withdrawal from the 2015 nuclear deal, largely targeted Iran’s oil exports and the metal and petrochemical industries as well as the banking system.

A member of the Parliament Budget Committee has said an income of $24 billion in oil sales has been projected for the next Iranian year.



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