| Iran more than doubles defense budget |
| Last Updated(Beijing Time):2012-02-02 14:32 |
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Iranian President Mahmoud Ahmadinejad has put his 2012 budget to the countrys parliament. In a speech, Ahmadinejad told lawmakers the total budget comes to around 443 billion US Dollars, with the amount spent on defense more than doubling, an increase of 127 per cent.
The president says the public budget for 2012-13 is worth around 90 billion dollars. It covers items like wages, subsidies and development projects. Meanwhile, the draft budget proposes a 5.6 per cent drop in government spending.
It aims at securing a growth rate of eight per cent, higher than the 7.3 per cent current growth. Iranian media says the budget is based on an oil price of 85 US dollars a barrel, which is below international crude prices.
Tension with the West rose last month when Washington and the European Union imposed the toughest sanctions yet in a drive to force Tehran to curb its nuclear program. Iran has suggested it will fight sanctions with sanctions. |
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