Iranian President Masoud Pezeshkian on Tuesday submitted the budget bill for the next Iranian fiscal year to the Parliament, saying the plan has given special consideration to a build-up of defense capabilities, Report informs via Mehr.
Pezeshkian gave a speech at an open session of parliament on Tuesday morning before presenting the national budget for the Iranian calendar year 1404, which begins in March 2025.
He said a basic principle of the budget bill, drafted by his administration after two months of tireless efforts, is strengthening Iran’s defense power considering the regional circumstances and the threats against the Iranian nation.
According to the president, the budget bill has also taken into account the schemes to ensure economic growth, increase oil production capacity, enhance medication reserves, manage water distribution, and provide affordable housing for the lower classes.
According to the internal regulations of the Iranian Parliament, the administration should present the annual budget bill to the parliament in December at the most.
It is submitted by the president to the legislature for review and approval.
Once the parliamentarians endorse the government’s proposed budget bill, it will go to the Constitutional Council for ratification before becoming law.