Outlines of a plan for restructuring Iran’s budget were approved on Sunday in a high economic commision, paving the way for its parliamentary debate.
The outlines of restructuring the government’s budget have been given the green light by the High Council for Economic Cooperation, according to Mohammad Bagher Nobakht, head of Iran’s Budget and Planning Organisation.
The commission, comprised of Iranian President Hassan Rouhani, Judiciary chief Ebrahim Raisi and Majlis Speaker Ali Larijani, is now studying the details of the four main components, that is, sustainable income, effective expenditure, economic stability and strengthening of Budget and Planning Organisation.
The next fiscal year [21 March 2020-2021] budget will be devised on the restructured plan, Nobakht said.
The government is trying to restructure its budget in a bid to decrease the oil sales’ share in its income following the unilateral US sanctions on Iran that took effect last October.