Breaking News

President submits budget blueprint to Parliament

President Hojjat al-Islam Hassan Rouhani on Sunday submitted the budget bill for the next fiscal year to the parliament, which maintains a cap on monthly subsidy payments to public and allocates part of the Subsidy Reform spending to health care and reduction of poverty.

According to Tasnim News Agency, President Rouhani gave a speech to an opening session of the parliament on Sunday morning before presenting the national budget for Iranian year 1397, which begins in March 2018.

According to the president, the budget bill has taken into account the main demands of voters in the May presidential election, namely plans to create employment, accelerate economic progress, reduce poverty, and stimulate private sector activities.

Briefing the lawmakers on the country’s economic conditions, President Rouhani also commented on the latest regional developments, condemning the US president’s controversial decision to recognize the Palestinian city of al-Quds as the new capital of the illegal Zionist entity.

According to the internal regulations of the Majlis, the administration should present the annual budget bill by December 5 each year.