Iran’s President Hassan Rouhani on Sunday submitted the budget bill for the next Iranian 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.
President Rouhani gave a speech to an open 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 Israel.
According to the internal regulations of the Iranian parliament, the administration should present the annual budget bill by December 5 each year.
It is submitted by the president to the legislature for review and approval.
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.
(Source: Tasnim, under Creative Commons licence)