Iran’s Parliament ratifies budget bill for next fiscal year
Iran’s Parliament approved the national budget bill for the next Iranian year, which will start on March 21, 2018.
The bill was approved on February 22 by 148 MPS in favor, 38 against and 3 abstentions, Iran’s state-run IRINN TV reported.
Next year’s national budget bill is based on an oil price of $55 per barrel and a projected average exchange rate of 35,000 rials to the US dollar.
The overall budget ceiling is set at about 12,175 trillion rials, with government spending accounting for 4,432 trillion rials.
Meanwhile, the administration earmarked government spending for the current year (started March 21, 2017) at 3,710 trillion rials.
MPS approved the revised outlines of the budget on January 31. The bill was earlier rejected by the Parliament on January 28, with 120 votes against.
Now the budget bill will forwarded to the Guardians Council, the constitutional supervisory body, for ratification before becoming a law.
Iran saw a considerable surge in wheat output in the year which started on March 21, 2017.
Australia, Canada, Ukraine and the US are main suppliers of cereals, including wheat, to Indonesia.
Some 276,410 tons of wheat worth of $70.78 million was exported in the nine months to December 20, 2017.
The value of wheat exports during this period increased by 758 percent.
Indonesia was 10th target of Iran’s non-oil exports during the 10 months to January 20, according to the latest data.
The country imported goods worth $465 million from Iran, registering a huge rise of 267 percent yearon-year.
Iran’s exports to the Asian country in the 10-month period amounted to 1.4 million tons which is 98 percent more year-on-year.