Parl. sets foreign finance limit at $30b

TEHRAN, Feb. 03 (MNA) – The parliament has approved a measure on Saturday to set the ceiling for using foreign investments in projects at $30 billion for the next Iranian fiscal year starting March 21.

The measure was ratified with 160 votes in favor, 25 against and five abstentions, out of the total 223 lawmakers present during the Saturday open session at the Parliament. 

Under the measure, the ceiling for using foreign investments in the next Iranian fiscal year (starting March 21) for the remaining projects of the previous year has been set at $30 billion. The measure shows a $20-billion decrease in the set limit compared to last year's budget bill. 

The lawmakers also passed another measure included in the next year’s budget bill, which allows the government to obtain or secure financial and credit services or ex gratia payments up to $5 billion from foreign governments and financial institutions in accordance with legal standards.

The measure was ratified with 163 votes in favor, 29 against and six abstentions.

The Iranian MPs also allowed Rouhani's government to use foreign finance to fund rail projects next year. 

Last Wednesday, the Parliament approved the general outlines of the country’s proposed budget bill for the next Iranian fiscal year, after having rejected it on Sunday. Lawmakers are currently going over the details of the budget bill. 


News Code 131850


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