The budget bill has been drafted for the first time using the “new rial,” following the removal of four zeros from Iran’s national currency.
If fully approved, the move is expected to end years of using extremely large figures and complex calculations in official financial documents.
All revenue, expenditure, institutional allocations, and major budget tables in the draft have been prepared entirely under the new currency framework. This marks the first annual budget to be officially compiled and submitted using the new rial after the completion of the redenomination process.
At the same time, members of the government’s economic team attended Parliament to brief lawmakers on the deteriorating current economic situation. Parliamentary officials have warned that if explanations fail to satisfy legislators, ministers could face impeachment proceedings.
