EghtesadOnline: Despite persistent calls by economic experts and academia on the government to scrap subsidized currency allocations, it appears that the controversial forex policy to pay for importing basic goods, will be sustained in next year’s budget (March 2020-21).
EghtesadOnline: Iran would need oil priced at $194.6 a barrel to balance its budget next year, the International Monetary Fund said.
EghtesadOnline: With US sanctions on the oil industry taking a toll on the economy, including the national budget, the government has again pledged to reduce dependency on oil exports to zero and prepare the next budget (March 2020-21) without oil revenues.
EghtesadOnline: The Plan and Budget Organization of Iran will submit the budget plan of state-run companies in the next fiscal year (March 2020-21) to the parliament on Nov. 6 and that of government public spending a month later, on Dec. 6, said the head of PBO, Mohammad Baqer Nobakht.
EghtesadOnline: Oil revenues are generated from selling the country’s capital assets and should be spent on augmenting capital assets, such as development projects, the head of Plan and Budget Organization, Mohammad Baqer Nobakht, said.
EghtesadOnline: Iran’s 4,480-trillion-rial ($37.64 billion) budget for the current fiscal year (March 2019-20) is based on the sale of 300,000 barrels of oil per day, the deputy head of Plan and Budget Organization said.
EghtesadOnline: Tehran Chamber of Commerce, Industries, Mines and Agriculture has put forward three specific proposals for the government to carry out a structural overhaul of its budget.
EghtesadOnline: The Central Bank of Iran is trying to find ways to plug the budget deficit and avoid printing more money, says the CBI governor Abdolnaser Hemmati.
EghtesadOnline: The next fiscal budget (March 2019-29) has allocated 5.4 trillion rials ($41.5million) for the Vice Presidential Office for Science and Technology, up 11% compared to the funds made available in the outgoing year.
EghtesadOnline: President Trump's fiscal 2020 budget request includes $21.02 billion for NASA, funding the agency's ongoing efforts to develop commercial spacecraft and infrastructure in low-Earth orbit and to press ahead with construction and launch of the world's most powerful rocket and the Orion crew ships that will carry astronauts back to the moon.