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Iran's Parliament approves outlines of next year's budget bill

The Islamic Consultative Assembly (Majlis) Tuesday morning approved the outlines of next year's budget bill, IRNA reported from Tehran.

The national budget amounts to rls 1,069,537,000. This includes the general budget in the amount of 509,131 billion, with banks and state-run firms having a share of rls 684,177 billion in the total.

Gross national product is expected to show a modest growth of 7.3 percent while gross domestic product, excluding oil, is expected to grow by 7.7 percent.

The budget bill forecasts 7.9 percent growth in investment, 24 to 30 percent in liquidity, 14.5 percent in inflation, 6.5 percent in agriculture, 9.5 percent in industries, 10.9 percent in housing and 7.7 percent in services.

Addressing an open session of Majlis this morning, Management and Planning Organization chief Mohammad Sattarifar said sustained economic growth is a major axis of next year's budget. He said economic growth for the next Iranian fiscal year has been set at 7.5 percent.

He further said that in the drafting of next year's budget, special attention has been placed on social welfare, increase in the development budget and budget for agricultural development, environment and mines.

Sattarifar noted that the current budget for the Iranian calendar year of 1382 (to end March 20) has increased by 8.3 percent compared with that of the preceding year and which is less than the rate of inflation.

He singled creation of more job opportunities and development of under-developed regions as the focus of next year's budget.

... Payvand News - 2/24/04 ... --

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