President submits draft budget bill to Parliament
Iranian President Masoud Pezeshkian submitted a draft state budget to the parliament for the Iranian calendar year 1404 that will start on March 21, 2025.
Pezeshkian presented a bill to the parliament containing the draft budget on Tuesday as he urged the lawmakers to cooperate with his administration and ratify the bill, IRNA reported.
He said the value of the draft budget for year 1404, including the budget earmarked to state companies, will be 504,890 trillion rials ($77.675 billion at the free market rate).
The budget is more than 57% bigger than the budget for the current calendar year in terms of local currency.
The president said the budget would benefit many groups in the Iranian society, adding that people on lower income stratifications would have to pay less tax next year.
He also said the draft bill has given special consideration to a build-up of defense capabilities.
He said a basic principle of the budget bill, drafted by his administration after two months of tireless efforts, is strengthening Iran’s defense power considering the regional circumstances and the threats against the Iranian nation.
According to the internal regulations of the Iranian Parliament, the administration should present the annual budget bill to the parliament in December at the most.
The bill 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 Constitutional Council for ratification before becoming law.