Iranian President Hassan Rohanis new government set to work on overhauling the Ahmadinejad administrations unrealistic budget to prevent shortfalls and ensure the availability of basic goods until spring time.The cabinet held its first meeting yesterday, local media reported. The ministers agreed this years budget will be reviewed and a new version presented within two weeks maximum, the Tehran-based newspaper Donya-e-Eqtesad said in todays edition.Irans fiscal year ends on March 20, 2014.
Current projected revenue wont be met and the budget will be reviewed to avoid overspending, deputy for planning Mohammad Bagher Nobakht said Aug. 17, according to the state-run Fars news agency. First Vice-President Eshagh Jahangiri said a planning official from the government of former President Mahmoud Ahmadinejad told him in a meeting recently that a third of the revenue stated in the budget is unrealistic, Fars said in a separatereportyesterday.
Rohani, inaugurated earlier this month, has pledged to waste no time fighting inflation topping 35 percent and unemployment of about 12 percent amid international sanctions that squeeze Irans economy, have cut the nations crude oil exports and restrict is access to foreign currency.
Parliament last week approved 15 of Rohanis nominees for cabinet. He has appointed three caretakers in the meantime to head the ministries of education, science and sports while he searches for new nominees to bring before parliament.
By Bloomberg
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