Iran approves $508 billion budget for 2012
hit Iran has approved a $508 billion budget bill for 2012 that is 40 percent bigger than the one approved for 2011, The Associated Press reported from the official IRNA news agency on Monday. According to IRNA, the budget increase is due to the sharp reduction in energy and food subsidies. Like other oil producing countries, Iran has benefitted by the sharp increase in global oil prices, which have topped $100 a barrel. While the budget bill must be approved by a constitutional watchdog, President Mahmoud Ahmadinejad initially submitted a ...
Click
To Read Full Article