IRAN

Iran Raises Its Budget Oil Price To $85/B For 2012-13

Iranian President Mahmoud Ahmadinejad on 1 February presented to the Majlis (parliament) the draft budget for the Iranian year 1391 (starting on 20 March 2012) with total expenditure of IR5,100 trillion, including IR4,000 trillion for the budget for state-owned banks and enterprises. The balance will cover the general budget, which is less than last year’s budget of IR1,770 trillion. According to Mehr News Agency the draft...