Iran decreases IRGC budget for next year
Iranian President Hassan Rouhani proposed the country’s $317.6 billion budget for the Iranian fiscal year starting March 20, 2016 to parliament.
In the budget bill, defense expenditure has been decreased by 4.2 percent or some 12 trillion rials compared with the current fiscal year (started March 2015).
The decrease mainly will be assigned to the Islamic Revolutionary Guards Corps (IRGC), meanwhile the allocated budget for other military entities will be increased based on the proposed bill.
The budget for military entities was set at 269.646 trillion rials (about $8.997 billion), meanwhile the figure for current year is 281.674 trillion rials(some $9.883 billion).
Iran’s semi-official Tasnim news agency has published details of the military budget:
|
The name of military entities |
Current budget law/ based on each USD at 28,500 rials |
Next year budget bill /based on each USD at 29,970 rials |
Y/Y change based on USD |
|
Defense ministry |
$934.96 million |
$1,037.90 million |
11 |
|
Army Forces |
$1,863.48 million |
$2,036.91 million |
9 |
|
IRGC |
$6,115.41 million |
$4,881.12 million |
-20 |
|
Basij Resistance Force |
$310.85 million |
$357.08 million |
15 |
|
Staff of the Iranian Armed Forces |
$658.61 million |
$684.20 million |
4 |
|
Total |
$9,883.30 million |
$8,997.22 million |
-9 |
Next year's national budget bill is based on an oil price of $35-40 per barrel and a projected average exchange rate of 29,970 rials to the U.S. dollar for the fiscal year.
About 680 trillion rials of oil revenues are forecasted for next fiscal year, 21.4 percent more compared to the current fiscal year. The total income in the budget bill is forecasted to reach 2.67 quadrillion rials.
The funding for the government was set at 3.07 quadrillion rials.
The administration has allocated 590 trillion rials for the development projects in the next year’s budget.
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