Ahmadinejad unveils annual budget with no sanction worries
Iranian President Mahmud Ahmadinejad has unveiled an ambitious state budget that critics say fails to address the economic pressures posed by a recent wave of international sanctions over its disputed nuclear program, Radio Liberty reported.
Speaking to parliament, Ahmadinejad said the $415 billion budget draft was based on a projected rise in tax revenues and would allow for defense spending to more than double.
It also seeks to cut government spending and boost funding for development projects, a move seen as a populist gesture ahead of parliamentary elections next month.
Some Iranian lawmakers have criticized the proposal as failing to consider the impact of international energy sanctions on oil sales, which typically account for more than half of budget revenues.
They also point to 20-percent inflation and a weakening Iranian currency as challenges the president's budget does not address.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!