Iran’s budget for the year starting 20 March 2016, together with details of the sixth five-year plan will be presented to parliament next week, Mohammad Baqer Nobakht, the head of the Management and Planning Organization (MPO) announced on 12 January. Despite Iran anticipating reaping the benefits of the upcoming lifting of nuclear-related sanctions (see column), the budget is set to slash spending in real as well as nominal terms.

Though the budget was supposedly finalized on 20 December, the subsequent further collapse in oil prices – Brent this week fell to $30/B – has delayed its unveiling. (CONTINUED - 765 WORDS)