Iran raises defense budget 127 percent for next year
TEHRAN, Feb. 1 (MNA) – President Mahmoud Ahmadinejad presented the administration’s draft of the national budget bill for Iranian calendar year 1391, which starts on March 20, to the Majlis on Wednesday.
The proposed national budget amounts to about 5.1 quadrillion rials (approximately $416 billion). The national budget for the previous year had envisaged about 5.39 quadrillion rials of expenditures.
Although, a small decrease is seen in the national budget compared to the national budget of the previous Iranian calendar year, the defense budget shows an increase of 127 percent.
The administration has also allocated more money for development, research, and health projects.
The budget for the running costs of the administration has been decreased by 5.6 percent and the administration’s tax revenues have been envisaged to go up by 20 percent.
Next year’s national budget is based on an oil price of $85 per barrel and the value of the U.S. dollar has been estimated at 11,500 rials.
The lawmakers should first approve the generalities of the draft budget bill, and then they will commence work on the examination of the details of the articles in Majlis committees in a process that may continue for a few weeks.