Iran’s parliament has approved the general outline of the national budget bill for the upcoming Iranian calendar year 1404, which begins on March 21, 2025.
Iran’s government has proposed adjusting the subsidized exchange rate based on inflation for the upcoming fiscal year, a move aimed at aligning currency policy with economic realities, a senior lawmaker said.
Iranian President Masoud Pezeshkian presented a budget of $98.5 billion for the country’s next fiscal year to the Parliament on Tuesday.
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh has stressed that the views of the private sector operators have to be taken into account while drafting the country’s next year budget bill.
Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has proposed eight practical suggestions to amend the budget bill for fiscal March 2021-22.
President Hassan Rouhani announced that his government has allocated 20 percent of its budget for the new Persian year of 1399 to countering the new coronavirus pandemic.
Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) has put forward three specific proposals for the government to carry out a structural overhaul of its budget.
The restructuring comes after the US reimposed economic sanctions on the country’s vital oil and banking sectors, reducing Tehran’s petrodollars.
The bill defies unilateral US sanctions and goes against forecasts the economy will shrink next year.