Iran's parliament confirms $593 billion budget

The Iranian parliament has approved the current year's 7.270 quadrillion rials (about $593 billion based on official USD rate, a dollar equals 12,260 rials) budget bill.

170 MPs voted in favor, 8 against, and 7 abstained.

In February, the Iranian administration submitted the budget bill to the parliament.

Iran set oil price at $95 in the budget bill.

The proposed budget increased by 22 percent compared to the year before.

Previously, ILNA news agency reported that the development budget reduced by 20 trillion rials (about $1.6 billion) compared to the previous year.

The bill was prepared considering the effects of international economic sanctions, so that the reliance of the national budget to oil revenues was reduced, ILNA quoted President Mahmoud Ahmadinejad as saying.


/AzerNews/