Iran to increase defence budgetFebruary 3rd, 2012 - 9:18 am ICT by IANS
Moscow, Feb 3 (IANS/RIA Novosti) Iranian President Mahmoud Ahmadinejad has called for doubling the country’s defence spending, the Mehr news agency reported.
The president also wants to cut down financial budget for the new fiscal year, starting March 20, by 5.6 percent.
Ahmadinejad presented a government-proposed draft budget, worth 5.1 quadrillion rials (about $416 billion), to parliament Wednesday. Last year’s budget was worth 5.4 quadrillion rials, the report said.
Defence spending will be increased 127 percent and more money will be allocated for scientific research and healthcare. The budget is based on an average oil price of $85 per barrel.
Experts say the budget’s revenues may be reviewed against the backdrop of sanctions imposed on Tehran by the US and the European Union (EU).
- Iran claims being hit by second cyber attack - Apr 26, 2011
- European parliament urges Russia, China to back Iran sanctions - Feb 03, 2012
- Iran's ex-president ousted as head of key state body - Mar 08, 2011
- Iran to install fuel rods in n-reactor Wednesday - Feb 15, 2012
- Iran warns of oil price hike - Sep 03, 2012
- Iran threatens to cut oil exports to more countries - Feb 21, 2012
- Ahmadinejad invited to Saudi Arabia to discuss Syria - Aug 06, 2012
- US seeks EU sanctions to force Iran back into talks - Jan 21, 2012
- Iranian parliament summons Ahmadinejad - Feb 08, 2012
- Putin to hold talks with Ahmadinejad - Jun 03, 2012
- 'EU sanctions on Iran may push oil prices to $150' - Jan 30, 2012
- Russia supports Iran's peaceful n-programme: Putin - Jun 07, 2012
- Ahmadinejad presents $180 bn budget - Feb 20, 2011
- Iran denies Greece 500,000 barrels of oil - Feb 26, 2012
- Iran's n-plant to reach full capacity in February - Jan 08, 2012
Tags: backdrop, defence budget, draft budget, european union, financial budget, fiscal year, iran, iranian president mahmoud, iranian president mahmoud ahmadinejad, mahmoud ahmadinejad, mehr news agency, moscow, oil price, parliament, president mahmoud ahmadinejad, quadrillion, ria novosti, rials, sanctions, tehran