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Iran Parliament Approves Budget Based on $81.5 Crude Oil Price

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’s parliament has approved a budget of 5,083 trillion rials ($480 billion) based on an oil price of $81.5 a barrel for the current Iranian year, state-run media including the The budget for this calendar year, which started March 21, is about 40 percent more than last year’s due to an increase in global and the implementation in December of a government spending program that involves phasing out energy and food subsidies. President ’s proposed budget of 5,390 trillion rials, submitted to the parliament on Feb. 20, was revised downward by ...

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