Iran’s next year budget envisages $1.6B for eliminating poverty

9 December 2018 12:51 (UTC+04:00)

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The draft budget of Iran for next year (starting from March 21, 2019), envisages 70 trillion rials (about $1.6 billion) for supporting social welfare and eliminating poverty, Trend reports citing Plan and Budget Organization of Iran.

The funds to be allocated for the purchase and sale of wheat have been increased in the draft budget from 50 trillion rials (about $1.19 billion) to 80 trillion rials (about $1.9 billion).

Also, $14 billion has been allocated for the supply of essential products, medicines, livestock and agricultural equipment considering that $1 is equal to 42,000 rials.

It is envisaged to allocate 425 trillion rials (about $10.1 billion) to Iranian citizens for the payment of cash subsidies, increase salaries of civil servants and retirees by 20 percent, 150 trillion rials (about $3.5 billion) to increase the level of underdeveloped regions, as well as increase subsidies to agriculture institutions and production centers by 20 percent.

It is also envisaged to increase the amount of funds to be allocated to the education institutions in Iranian provinces from 330 trillion rials (about $7.8 billion) to 430 trillion rials (about $10.2 billion), which is a 28 percent increase.

There are also plans to allocate a $1 billion loan for the equipment of universities and university laboratories.

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