Iran's Parliament (Majlis) in an open session on Sunday approved the budget bill for the next Iranian year (starting March 20) totalling 1,154,320,784,841,000 rials, IRNA reported from Tehran.
Sources of the government's general budget include state revenues, earnings from ceding financial and capital assets, expenses for the government's general budget as well as acquired capital and financial assets, which stand at 488,828,649,602,000 rials.
Revenues allocated to ministries and government organizations amount to 59,090,026,756,000 rials, while their expenses and other payments are predicted at an equal amount.
The budget for state companies, banks and non-profit state-affiliated institutes comprising of revenues and credits earned from other resources amount to 688,920,598,239,000 rials.
The budget bill for the next fiscal year also specifies the extent of borrowing and use of foreign loans, relaxing foreign trade, conducting more serious campaign against smuggled goods, boosting price of production and government services, efforts to direct subsidies to target groups as well as expanding social security network and medical insurance.
Meanwhile, the budget bill thus approved seeks to achieve a 7.3 percent economic growth rate.
In addition, the bill has authorized the cabinet to obtain a loan of rls 19.205 trillion from foreign sources or by selling bonds to provide part of the revenues forecast.
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