President outlines details of next year's budget bill

Tehran, Dec 7, IRNA – President Hassan Rouhani on Sunday outlined details of his proposed national budget bill for the next Iranian fiscal year (1394). The bill amounts to 8,370,000 billion rials. President Rouhani attended Majlis (Parliament) session today to outline characteristics of his proposed budget bill with an estimated ceiling for general budget at 2,670,000 billion rials. Next year's national budget bill is based on an oil price of $72 per barrel and a projected average exchange rate of 28,500 rials to the US dollar for the fiscal year. President Rouhani said that the amount of oil revenues was estimated at 690,000 billion rials in the next fiscal year, adding that administration has planned to increase non-oil incomes. The administration has allocated 480,000 billion rials for development projects in the next year’s budget which is 16 percent higher than that of the current year. The bill allocated 480,000 billion rials to execution of the targeted subsidies plan which is the same amount as for the current Iranian year. The President added the salary of the public sector's employees would raise by 14 in the next fiscal year while it was 20 percent in the current Iranian year. According to President Rouhani, some 15,000 billion rials of subsidies has been forecasted for the housing sector while another 10,000 billion rials has been estimated for employment. Implementation of the Economy of Resistance policies, detente in foreign policy, management of public sector's debts, continued execution of the targeted subsidies plan, reduction of inflation rate and improving people's purchasing power and social welfare, are among the important approaches adopted in the budget bill for the next year./end