Middle East Economic Survey
Majlis Approves 2011-12 Iranian Budget
The Iranian parliament on 9 May approved the budget bill for the Iranian year 1390, which started on 21 March, with total expenditure of IR5,083 trillion ($484bn at $1=IR10,500), an increase of 38.1% from last years figure of IR3,680 ($350bn). The budget is based on an oil price assumption of $81.50/B, Irans OPEC Governor Mohammad Ali Khatibi told Reuters on 8 May. The new oil price is...