Tehran, Nov 25, IRNA - Iran is to increase the budget for development projects in the next Iranian year (starting March 21, 2015) by 20 percent compared with the current year, a senior government official said on Monday.Vice President for Planning and Strategic Supervision Mohammad Baqer Nobakht also said the government has allocated $16.6 billion to development projects in the draft budget bill.
Nobakht announced that the government plans to complete 470 semi-finished projects.
In February 2013, the Majlis approved Irans budget for the year ending March 2015 worth $319b at the official exchange rate.
The budget has been based on an oil price of $100 per barrel, and exports of about one million barrels per day.
However, Irans Parliament recommends basing the next years budget on an oil price of $75-80 a barrel, a senior lawmaker said on Monday, down from $100 in the 2014 budget plan.
Elsewhere, Gholamreza Tajgardoun, head of the Majlis Planning and Budget Commission said: It seems the trend of decline in oil prices will continue and a return to previous oil prices is not expected.
The Parliament and the planning commission recommend an oil price of about $80 a barrel to the government, he said when asked about how the fall of oil prices would affect the budget.
The price of oil for the budget cannot be announced, but it seems that with caution and foresight, it will be based on an oil price of between $75 and $80, he said.
By IRNA
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