Iran's parliament approves $97 billion budget

    Iran's parliament approves $97 billion budget

    April 19, Tehran: Iran’s parliament has approved a $97 billion budget for the current fiscal year, local media reports said.

    Iran's official IRNA news agency said on Tuesday that the new budget allows the government to set the price of oil at $40 a barrel and to export 2.25 million barrels per day.

    Iran said that it has increased its crude export to 2.1 million barrels per day, almost double the production levels before a nuclear deal with world powers went into effect in January. The deal resulted in the lifting of international sanctions and the resumption of Iranian oil exports.

    The bill needs ratification by the Guardian Council, a constitutional watchdog, to become law.

    The Oslo Times


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