Iran budget for next fiscal year expected next week

TEHRAN: Iran budget for the fiscal year 2009-10 will be presented in the parliament next week.

The Iranian government has based its budget bill for 2009-10 on an oil price of 37.5 dollars per barrel. Iranian news agency on Sunday reported, "In the final version of the budget bill of the next (Iranian) year the oil price was envisaged at 37.5 dollars per barrel." The government is due to submit the budget of the next Iranian year that starts on March 21 to parliament for final approval next week. The government is obliged to save extra income beyond the budget base price in the Oil Stabilisation Fund, which is used to support macro energy projects and prop up private sector projects.
President Mahmoud Ahmadinejad's extravagant withdrawals from the fund for construction projects have, however been criticised by economists who are concerned about the falling oil price and predict a budget deficit.