Iran’s Parliament passes generalities of budget bill for next fiscal year

Iranian lawmakers approved the generalities of the administration’s proposed budget bill for the next Iranian fiscal year (begins on March 21, 2022).

According to Tasnim news agency, an open session of the Parliament was held on Sunday, attended by President Seyyed Ebrahim Raeisi and members of the administration’s economic team.

After listening to comments from the president and Head of the Planning and Budget Organization (PBO) Masoud Mirkazemi, the legislators approved the generalities of the bill with 174 votes in favor, 76 against and 6 abstentions.

The Parliament will now have 15 days (which can be extended to 30 days) to discuss the specifics of the bill before putting it to vote for final approval.

President Raeisi had submitted the draft budget bill for the next Iranian fiscal year to the Parliament on December 12.

In his address to the Parliament on Sunday, the president referred to efforts to control the inflation rate and said that based on statistics, inflation has started to decline and be controlled.

President Raeisi also highlighted a 40% increase in non-oil exports, saying, “Despite all the threats and sanctions, today we have an increase in oil and condensate exports. Some people complained that it is not possible, but God Almighty helped us and this happened.”

ME