Tag Archives | Budget

Cabinet agrees to issue $2.7bn Securities

Iran’s Council of Ministers convened on Wednesday in a session chaired by President Rouhani and agreed to issue securities and Islamic bonds (sukuk). The securities and Islamic bonds worth $2.7 billion were agreed to be issued to operationalise plans and projects in companies under ministries of Petroleum, Energy, Roads and Urban Development, Communications and Information […]

Move to hand control over Bond Market to Central Bank

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian MPs move to hand control over bond market to Central Bank The Iranian parliament has called for a pause in issuing government bonds on capital markets, accusing the government of President Hassan Rouhani of […]

Parliament OKs $5bn of Foreign Finance

The Iranian parliament approved a legislation that gives permission to the administration to attract five billion dollars in finance from foreign governments and financial institutions. During an open session of the parliament on Sunday, the Iranian lawmakers approved part of an article of the budget bill of the next Iranian year (which will begin on […]

Why Iranian Govt’s Debt Problem isn’t going away

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The administration of Iran’s President Hassan Rouhani made three decisions on Jan. 30 that officials say will financially shore up commercial banks until the end of the Iranian fiscal year on March 20. However, the […]

Rouhani’s Budget Proposal Reverses Declining Reliance on Oil

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iranian President Hassan Rouhani presented the last budget bill of his current term to the parliament Dec. 4. The state budget for the next Iranian year, beginning March 21, 2017, will exceed 10 quadrillion rials […]

Rafsanjani takes aim at Iranian Military Spending

By Saeid Jafari, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Rafsanjani takes aim at Iranian Military Spending amid Furor The chair of Iran’s Expediency Council, Ayatollah Ali Akbar Hashemi Rafsanjani, delivered the following remarks Aug. 10 at the 33rd Summit of Managers and Heads […]

Russia’s Loans for Iran to Come Soon

Russia’s Deputy Finance Minister Sergey Storchak said a cabinet’s permission on granting two loans to Iran with a total amount of €2.5 billion will come in two weeks. “The total sum of two loans (to Iran) is about 2.5 bln euros. The first one is slightly bigger, the second one is a bit smaller,” Storchak […]

Cabinet approves Pension Increase

The Council of Ministers has approved a 14 percent increase in pensions from the beginning the current year for all payment levels. During the session that was chaired by President Rouhani, the cabinet also discussed and approved regulations regarding removing obstacles of production and supporting industrial and mineral production workshops. Based on the regulation, which […]

Rouhani to slash IRGC Budget, Empower Army

By Abbas Qaidaari, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. President Hassan Rouhani presented a general budget bill to parliament Jan. 17 — one day after the formal lifting of nuclear-related sanctions — for the current Iranian fiscal year, which began March 20. More […]

Iran Moves to Tax its Way Out of Crisis

By Maysam Bizær, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Facing oil slump, Iran moves to tax its way out of crisis Amid warnings by some experts of the possibility of a further slump in oil prices in 2016, crude oil prices briefly hit […]

$40 p/b Oil Market Price for Next Year Budget

Iranian Minister of Petroleum Bijan Zangeneh (pictured) has said the government has suggested the closest figure to the current crude oil market price of around 40 dollars per barrel to draft next year’s budget (21 March 2017 – 20 March 2018). “It is not 35 dollars. So far, 40 dollars has been suggested as the […]

Next Year’s Budget based on $35-40 per Barrel

By John Lee. The Head of the Statistical Center of Iran said oil revenues for next year’s budget (21 March 2017 – 20 March 2018) have been based on a forecast of 35-to-40-dollar per barrel, with production being increased up to 2.5 million barrels per day. According to the Ministry of Petroleum, it is possible […]

Iran Cuts 2016 Budget

Iran has reduced its state budget for the coming year by 2.6 percent, as low oil prices put pressure on the country’s finances. A government spokesman is quoted as saying that the budget for the year starting on 20th March has been tentatively set at 2.670 trillion rials, down from an original plan for this […]

Rouhani Shifts Gears on Economy

By Alireza Ramezani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. After months of resisting calls for an economic stimulus package, President Hassan Rouhani has finally changed his stance on the matter. This will be the second such short-term plan initiated since he took office […]