Iran budget Archives - Iran News Daily

Iran pays $8b for SMEs, unfinished projects

reporter 1222 — Mon, 04 May 2020 04:39:59 +0000

TEHRAN (Iran News) – Nearly $7.99 billion was paid to small- and medium-sized enterprises (SMEs) and unfinished industrial projects with over 60 percent progress during the previous Iranian year (ended March 19), according to data released by Iran’s Ministry of Industry, Mine and Trade.

The payments were made in the framework of 20,930 bank loans to various projects and production units, IRNA reported.

The highest payment was made to SMEs and projects based in Tehran Province, with 1,434 facilities, amounting to $1.6 billion, and the lowest was related to the southern Kerman Province, with only three loans amounting to about $345,230.

The Central Bank of Iran (CBI) prioritized supporting production as its priority plan in the previous Iranian calendar year.

CBI Governor Abdolnaser Hemmati has several times stressed that supporting production units to flourish is the priority of the country’s banking system.

In early May 2019, Hemmati outlined CBI plans for neutralizing or relieving the impact of US sanctions on the country’s economy and mentioned providing liquidity and working capital to maintain and boost domestic production.

CBI’s plans take two major approaches, one of which is to secure finance for production activities and also to provide the working capital needed for such activities.

One of the major programs that Iran Small Industries and Industrial Parks Organization (ISIPO) is following regarding SMEs is reviving idle units and helping them get back into the business to increase the country’s domestic production and to boost exports to neighboring countries.

Holding training courses, supporting SME participation in international exhibitions, supporting SME research and study projects, and supporting new technology-based SMEs are some other programs that ISIPO is following to help SMEs expand their activities.

Meanwhile, the head of Trade Promotion Organization (TPO) announced on Sunday that the Ministry of Industry, Mine and Trade announced that it will establish working groups for developing non-oil exports in provinces across the country.

According to Hamid Zadboum, due to the significant role of provinces in developing export goals and to benefit from the potentials and capacities of the provinces in increasing non-oil exports, the Industry Ministry has decided to establish the working groups and hold expert meetings.

The official noted that given the country’s current situation and considering the restrictions created by the US, non-oil exports play an important role in strengthening the production sector, maintaining employment, and meeting the needs for foreign currencies.

Therefore, developing non-oil exports has been focused on seriously as one of the major axes of the industry ministry’s programs for the current Iranian year, Zadboum said.

He further pointed to improving the country’s non-oil trade balance, increasing the durability of exported goods, increasing the diversity of exported goods and markets, increasing the complexity of exported goods (in terms of added value and technical quality), and increasing the capabilities of the private sector as some of the major programs envisioned in the roadmap for promoting non-oil exports.

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Budget bill for 1399 approved

reporter 1222 — Tue, 17 Dec 2019 10:31:47 +0000

TEHRAN (Iran News) – The Iranian parliament (Majlis)’s Planning and Budgeting Committee on Monday approved the 1.988 quadrillion rials (about $473.5 billion) national budget bill for 1399, the next Iranian calendar year, starting March 20, Shana reported, quoting a member of the committee as saying.

According to Shahbaz Hassanpour, the committee will start assessing the details of the bill since the budget outlines are ratified.

On December 8, President Hassan Rouhani submitted the administration’s draft of the national budget bill for the next Iranian calendar year 1399 to the Majlis.
The proposed budget amounted to about 1.988 quadrillion rials (about $473.5 billion at the official rate of 42,000 rials), with a 14-percent rise from the current year’s approved budget.

The bill has estimated the government’s budget at 5.63 quadrillion rials (about $134.04 billion), 8.2 percent higher than the figure in the present year’s budget.
A 15-percent rise has been envisaged in the salary of the governmental employees.

The submitted bill has envisaged 2.61 quadrillion rials (about $62.14 billion) of incomes, while 3.67 quadrillion rials (about $87.38 billion) of expenses.

Revenues from exporting oil, gas, and gas condensate are estimated at 454.9 trillion rials (about $10.83 billion), down 66 percent from 1.37 quadrillion rials (about $32.61 billion) approved in the current year’s budget.

Tax incomes are predicted to be 1.95 quadrillion rials (about $46.42 billion), rising 27 percent from 1.72 quadrillion rials (about $40.95 billion) envisaged in the present year’s budget.

Like the current year’s budget, the next year’s proposed budget requires the government to pay 20 percent of its oil revenues to the National Development Fund (NDF).

The main characteristic of the next year’s budget bill which makes it different from previous years’ budget bills, is the impact of the U.S. sanctions on the country’s economy and the consequent considerations which have been taken into account in preparing it.

The next year’s budget bill has been modified in terms of resources, expenditures, policies, and objectives, considering the resistance against the U.S. sanctions.
In resources, the government has tried to have the least dependence on oil resources in the history of the country’s economy.

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Next year budget based on ‘no negotiation policy’

reporter 1222 — Tue, 10 Dec 2019 07:30:51 +0000

TEHRAN (Iran News) – President Hassan Rouhani said on Monday that Iran’s next year budget won’t be dependent on negotiations with the United States whose officials have imposed “unilateral sanctions on our nation”.

Iran’s next fiscal year begins on March 21, 2020, and the budget allocated for it was dedicated to Parliament recently.

“The next year’s budget is not dependent on negotiation; instead it has been drawn up based on the continuation of sanctions (on the country),” the president pointed out.

Rouhani’s remarks came in a ceremony marking Student Day at Farhangian University in Tehran.

Student Day marks the anniversary of the murder of three students in the University of Tehran on December 7, 1953 (known as Azar 16 in the Iranian calendar) by police in the Pahlavi era. Every year there are local gatherings at many universities organized by students to commemorate the day.

‘Rulers should be criticized otherwise deviation is possible’

Elsewhere in his remarks, Rouhani said that criticism will awaken the authorities about existing inefficiencies, noting that a straight meaningful criticism will prevent a ruling system from deviation.

“We welcome constructive criticism. Authority should be criticized, otherwise, its deviation is possible,” the president said, adding, “The country needs a university student who criticizes the officials candidly, meaningfully and bravely.”

“A university student, as a person who seeks reality, should criticize the authority. We must state the realities, but, we should not label (others),” Rouhani added.

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