Iran Parliament Cut Budget 2.25% Before Approval, Donya Reports

Iran’s parliament yesterday approved this year’s government budget at 2.25 percent less than the spending plan submitted by President Mahmoud Ahmadinejad, Donya-e-Eqtesad reported, citing deputies.

The public budget for the Iranian calendar year starting March 21st was approved at 1,730 trillion rials ($165 billion) compared with 1,770 trillion rials proposed by Ahmadinejad in February, the Tehran-based newspaper said.

Ahmadinejad said his plan was aimed at reducing unemployment, building more homes and improving rural living conditions. Parliament also approved a total budget of 5,170 trillion rials that aside from the government, or public budget also includes spending for state-owned companies, the newspaper said.

To contact the reporter on this story: Ladane Nasseri in Beirut at lnasseri@bloomberg.net.

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net.

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