Media Wire

Iran Parliament Passes Rouhani’s Budget Bill after Amendments

Iran’s parliament has passed general outlines of President Hassan Rouhani’s new budget bill after initially rejecting it over concerns that the proposed cuts could hit vulnerable people the hardest.

The bill for the fiscal Persian year of 1397 which begins on March 20 received 182 votes, with 73 MPs rejecting it while six lawmakers abstained, state news agency IRNA reported on Wednesday.

The proposed budget had been voted down 120 to 83 on Sunday, with MPs expressing dissatisfaction with belt-tightening measures, including cuts to key government subsidies.

They cited living conditions of state employees, stating that the proposed cuts were conducive to more economic hardships.

The parliament has recommended several key amendments, which are to be discussed in detail in the coming days.

They included keeping gasoline prices unchanged and pegging the national currency at 35,000 rials against the US dollar.

It further asked the government to prohibit any hikes in tariffs, duties and other costs of services provided by the government.

MPs further proposed tax exemptions for civil servants earning below 23 million rials ($522) and for guild members earning less than 18 million rials per month.

Rouhani had sent the draft budget to the parliament in November on the backdrop of general grievances over the rising costs of living and stagnant pays.

Critics say the president has squandered his political capital over a nuclear agreement which has left Iran in no better position than unemployment at 12 percent and inflation hovering around 10 percent.

Rouhani is credited with bringing down inflation from about 40 percent at the start of his office but a restrictive monetary policy has landed the country in a gnawing stagflation.

IFP Media Wire

Reports and views published in the Media Wire section have been retrieved from other news agencies and websites, and do not necessarily reflect the opinion of the Iran Front Page (IFP) news website. The IFP may change the headlines of the reports in a bid to make them compatible with its own style of covering Iran News, and does not make any changes to the content. The source and URL of all reports and news stories are mentioned at the bottom of each article.

Recent Posts

Video: Sisi warns of ‘chaos and destruction’ in Egypt following Assad’s fall in Syria

An Egyptian intelligence-owned television channel has released a propaganda video of President Abdel Fattah el-Sisi…

3 minutes ago

Israel kills at least 8 in West Bank raids

The Israeli army and military aircraft have killed at least eight Palestinians, including two women…

6 minutes ago

Iran lifts Ban on WhatsApp, Google Play in a landmark decision

In a significant move towards greater digital accessibility, the Supreme Council of Cyberspace, chaired by…

12 hours ago

One child gets killed every hour in Gaza: UN

The United Nations agency for Palestine refugees (UNRWA) has announced that 14,500 Palestinian children have…

15 hours ago

Several killed in blast at explosives factory in Turkey

At least 12 people were killed and three others wounded after a blast rocked an…

15 hours ago

Zelensky claims over 3k North Korean soldiers killed, wounded in Russia

The number of killed and injured North Korean soldiers fighting alongside Russian forces in Kursk…

15 hours ago