With a cloud of uncertainty hanging over Iran’s economic outlook in the wake of renewed US sanctions, the Iranian authorities are reviewing their policy options and priorities for the 2019-20 budget. The latter was due to be submitted to parliament on 16 December but was stopped at the last minute with the intervention by Supreme Leader Ayatollah Khamenei.

The amendments he is seeking are far from minor. According to Ali Larijani, Speaker of the Iranian parliament, Mr Khamenei wants to see a reduction in government spending, lower reliance on oil revenues, and upholding the principles of the “resistance economy.” With this in mind the budget for the year beginning 21 March 2019 was this week returned to the Plan and Budget Organization with instructions to incorporate the supreme leader’s amendments with a view to “safeguarding the wellbeing of the people.” (CONTINUED - 745 WORDS)