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Home Economy Economy News Next year’s budget bill envisages nearly $23b for Tehran Province

Next year’s budget bill envisages nearly $23b for Tehran Province

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Next year’s budget bill envisages nearly $23b for Tehran Province

TEHRAN- The governor general of Tehran Province said the budget bill for the next Iranian calendar year (starts on March 20, 2020) has envisaged 9. 62 trillion rials (about $22. 9 billion) for Tehran Province, IRNA reported.

Speaking to the media after a session of Tehran Province Development and Planning Council on Monday, Anoushirvan Mohseni Bandpey said the figure is 24 percent more than that allocated to the province in the current year’s budget.

As announced by Mohammad Baqer Nobakht, the head of Iran’s Planning and Budget Organization (PBO), the government will submit the budget bill for the next Iranian calendar year to the parliament on December 6 as it is scheduled.

Iran is going to allocate all revenues from oil sales to the development projects following structural reforms in its next budget bill.

Last week, Nobakht said that the next year’s budget plan is not going to be biennial as it was previously reported.

Only the budget bill for the [Iranian calendar] year of 1399 (starts on March 20, 2020) will be handed over to the parliament and it will be annual like before,” the official told IRIB.

He went on explaining that “what we meant by a biennial budget plan was actually taking a two-year outlook into consideration for our planning and predictions of revenues and expenditure, however the budget bill which will be officially approved by the parliament is annual like before.

 

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