Iranian MPs approve budget bill outline
Iranian legislators have voted in favor of the general terms of the budget bill proposed by the government for the next calendar year (starting March 21, 2015).
The lawmakers approved the outlines of the nearly $300 billion budget bill with 154 votes in favor, 43 against and 13 abstentions, the Tasnim News Agency reported on Sunday.
The overall budget for next year shows a 4% growth compared with the current year’s budget.
Meanwhile, Spokesman of the Iranian Parliament’s Planning and Budget Commission Gholam Reza Kateb said that dependency on oil exports in the overall budget bill has dropped to 25%.
The budget for the current Iranian year relied on oil for over 30% percent of government revenues.
The Iranian government has been trying to increase non-oil exports in a bid to slash reliance on oil revenue.
The details of the bill will be debated by the Iranian lawmakers for coming weeks before being sent to the Guardian Council, whose approval is required for the bill to be signed into law.
The bill will be sent back to the parliament for amendments if it is voted down by the Guardian Council. In case the MPs insist on their own version, the top arbitration body Expediency Council will intervene.