Iran`s Majlis approves general outlines of national budget bill

TEHRAN,April 17(MNA) – The Iranian parliament (Majlis) approved general outlines of the current year’s national budget bill on Tuesday. On February 27, the administration of President Mahmoud Ahmadinejad presented the national budget bill for the current Iranian calendar year 1392, which started on March 21, to the Majlis. The proposed national budget amounts to about 7.3 quadrillion rials (approximately $595 billion), showing a 22 percent rise year on year. Reportedly, the budget has set the price of oil at $95 per barrel, based on the exchange rate of 12,260 rials, which has been fixed by the Central Bank of Iran. The bill has also allocated 900 trillion rials (about $73.4 billion) for implementing the second phase of the Subsidy Reform Plan, a 125 percent rise compared to the budget which had been allocated for the first phase of the plan.