The first signals of the budget bill for the stock exchange

According to Tejarat News, the President will present the budget bill of 1250,000 billion Tomans for Iran next year to the parliament today. This is the first budget bill of the 13th government. The government’s proposed budget is closed, assuming it sells 1.2 million barrels of oil per day at $ 60 a barrel. The purpose of the budget is to neutralize sanctions, control inflation and achieve 8% economic growth. According to reports, the average salary increase for government employees will be 10% next year, but the minimum wage will increase by a maximum of 28%. The income of other salaried employees will also increase in a gradual manner.

With the permission of the Supreme Leader, the government intends to freeze the ceiling of oil revenues transferred to the account of the National Development Fund for the next year by 20%. According to the law of the Sixth National Development Plan, 40% of oil revenues must be transferred to the account of this fund. Masoud Mirkazemi, the head of the Program and Budget Organization, had previously announced the easing and significant reduction of the number of budget lines next year and said: budgeting based on the continuation of sanctions with a contractionary approach, strengthening livelihoods instead of increasing salaries, reducing the number of budget lines and realizing budgets. has taken. The president had previously stressed that next year’s budget should be closed without a deficit and with an anti-inflation approach. This year, the government’s budget was facing a deficit of at least 400,000 billion tomans.

The fate of currency in the budget

One of the challenges of next year’s budget goes back to the assignment of 4200 Tomans. The government has decided to eliminate the preferred currency based on each USD 4,200, except for the import of medicine and wheat.

The riddle of salary increases

A 10% increase in staff salaries is subject to increased purchasing power and improved livelihoods. Salary increases in 1401 will occur in a range of six to 28 percent, with an average of 10 percent.

Contractual or expansionary budget

If next year’s budget ceiling is 1250,000 billion tomans, Iran will experience a severely contractionary budget next year; Because the ceiling of public resources of this year’s government budget has been 1278 thousand billion Tomans.

Oil revenue subject to agreement or refinement

The share of oil sales has increased to 400,000 billion tomans this year, and the same figure is intended for tax revenues. To make a living from exporting and selling crude oil, the government must sell 1.2 million barrels a day on average next year at a price of $ 60 a barrel.

Minimum sale of securities

One of the most important expenditures of the government next year is to provide the budget deficit of pension funds, for which it is said that the government has allocated 200,000 billion tomans next year.

Significant reduction in the negative budget balance

In the draft budget bill of 1401, due to the 71% growth of customs and tax revenues, the operating balance deficit increased from 464 thousand billion tomans in the budget of 1400 to 271 thousand billion tomans, which is a positive step to stop the growth of the operating balance deficit.

Redirect the budget in favor of the stock market

The published news of the details of the budget bill that will be presented to the parliament today shows the positive budget pulses in the stock market; Including the allocation of an independent budget for the Market Development and Stabilization Fund and the maintenance of petrochemical feed rates, along with a 5% reduction in corporate taxes.

Meanwhile, it seems that the government has not made any increase in the formula for calculating feedstock rates for petrochemicals in the 1401 budget to support the capital market. In addition, the 1401 budget does not rule out raising interest rates, which would boost the mining industry’s efficiency next year.

Elimination of 5% tax on manufacturing companies, increase in exchange rates and gradual change of industrial fuel are other news that, according to capital market activists, will benefit this market.

Source: fellow-citizen

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