Azerbaijan , Baku, April 5 / Trend, A.Yusifzade /
Iran 's budget dependence on oil sale has increased by 15 percent, ISNA reported quoting Iran's Majlis Joint Commission spokesman Mohammad Mehdi Mofatteh as saying.
Mofatteh said that a parliamentary committee has approved Iran's budget oil revenue to roughly $50 billion this Iranian calendar year (March21, 2011-March 20, 2012) or 15 percent higher than last year's $43 billion.
Mofatteh said Iran's new budget allocates $60 billion for subsidies, estimates oil price at $80 per barrel and fixes the rate of the US dollar at 1,050 tuman.
Earlier Iran 's Parliament approved Iranian President Mahmoud Ahmadinejad's 2010/11 budget.
The new budget totals $539 billion or 46 percent more than last year. The government's policy to reduce subsidies contributed to increase in budget revenues.
The subsidy cuts plan -- encompassing key consumer goods such as gasoline, natural gas, and food -- is said to be one of the most important undertakings in Iran's recent economic history.
Every family member received $80 in cash subsidies for a two-month period.
Iranian officials say energy subsidies have cost the Iranian government around $100 billion per year.
Some 620,000 billion rials (about $60 billion) has been stipulated in the budget plan for implementing the Subsidy Reform Law, for the next Iranian year's budget plan, Mofatteh told IRNA.