Dec 02, 2020 08:37 UTC
  • Speaker stresses ending reliance on oil revenues

The speaker of Iran’s Parliament described petrodollars as an unreliable source of income while the administration is going to submit its proposed budget bill for the next Iranian fiscal year (which will begin in March 2021) to the parliament.

According to Tasnim news agency, addressing a parliamentary session on Wednesday, Mohammad Baqer Qalibaf said what must be taken into account in formulating the national budget is non-reliance on oil incomes, which has been repeatedly stressed by Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei.

The Parliament speaker said the budget’s dependence on petrodollars would be totally damaging and abortive.

The overriding concern is a budget deficit, he said, adding that the Parliament is pushing for a budget reform with new sources of revenue.

The administration’s proposed budget bill for the next Iranian fiscal year has been signed by President Hassan Rouhani.

The budget bill was submitted to the Parliament by Mohammad Baqer Nowbakht, Head of Iran’s Plan and Budget Organization.

Once the parliamentarians endorse the government’s proposed budget bill, it will go to the Guardian Council, the constitutional supervisory body, for ratification before becoming law.