TEHRAN - Head of Iran’s Planning and Budget Organization (PBO) said the next year’s budget plan is not going to be biennial as it was previously reported.

“Only the budget bill for the [Iranian calendar] year of 1399 (starts on March 20, 2020) will be handed over to the parliament and it will be annual like before,” Mohammad Baqer Nobakht told IRIB on Monday.

The official went on explaining that “what we meant by a biennial budget plan was actually taking a two-year outlook into consideration for our planning and predictions of revenues and expenditure, however the budget bill which will be officially approved by the parliament is annual like before.”

Nobakht had earlier announced that the government will submit the budget bill for the next Iranian calendar year to the parliament on December 6 as it is scheduled.
Iran is going to allocate all revenues from oil sales to the development projects following structural reforms in its next budget bill.

EF/MA