Iranian government plans to reduce subsidies to foreign exchange trade rat …

(MENAFN) On Sunday, the Iranian parliament approved the major frameworks of the national budget bill for the coming Iranian calendar year (starts March 21), allowing the government to reduce the exchange rate financed in foreign currencies.

According to IRNA, the bill was approved in the public session of parliament with 174 votes in agreement, 76 votes against the plan and six did not vote.

Ahead of the vote, President Ebrahim Raisi joined the parliament meeting to support the budget bill suggested by his administration and said the government intends to continue providing funded foreign exchange (at 42,000 rials per US dollar ) for necessary commodity imports over the next several months, indicating that the condition should be met to reduce the subsidized exchange rate.

Raisi said that “the subsidized exchange rate is the main concern of the government and [we] continue to [providing] in the next few months until conditions are ready.

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