IRI Government Will Invest Near 10b US$ for Development Projects
Within his weekly public appearance at the position of the IRI Government’s Spokeman, Dr. M. B. Nobakht confirmed the foreseen budget plan of the Government for this year’s development projects in Iran.
According to the media present at the ceremony, he confirmed:
The government will spend near 10 Billions US$ (About 374 trillion Iranian Rials) in development projects up to the end of the current Iranian year (March 20th, 2018). Mohammad Baqer Nobakht, then added that so far about 440 billion Rials (11.6m US$) of this sum have already been allocated for the approved development projects. Then he confirmed;
“The government is also planning to issue 9.5 trillion Rials ($2.5 billion) worth of bonds to settle its huge debt to contractors,”. In May, Deputy Minister of Roads and Urban Development, Amir Amini, said the Government had spent 360 trillion rials ($9.6 billion) from August 2013-Mach 2017 to develop domestic transport infrastructures, adding that it has yet to settle more 105 trillion Rials ($2.8 billion) of its debts to contractors.
PIMI added notice:
Due to unemployment increasing rates, the IRI Government has been forced for job creation by the Supreme Leader during his many public speeches for the community. (Click for special article)
Based on this obligation, the Government via the Ministry of Industry, Mine and Trade has started to define special budgets and offering soft loans to the industries and projects that will use new mid-tech technologies which are employment oriented. Such loans and budgets are mainly dedicated to those industry and projects which will import high-quality machinery from Europe, China, S. Korea and the countries which have debts to Iran.
About Dr. Nobakht: