Iranian President Masoud Pezeshkian submitted the country's budget bill for the next fiscal year to parliament on December 23.
Modern.az reports, citing Mehr News Agency, that the Presidential Administration, by removing four zeros from the national currency, has for the first time submitted Iran's budget bill for the upcoming year based on the "new rial".
Should this bill receive final approval, it will put an end to the use of extremely large figures and complex calculations in the country's financial documents for years to come.
Hamid Pourmohammadi, head of the Planning and Budget Organization, stated that next year's budget bill has been prepared in accordance with the new currency unit, with all revenue and expenditure items, allocations to government bodies, and main budget tables presented to lawmakers in an updated numerical format.
According to the internal rules of the Iranian parliament, the Administration submits the annual budget bill to parliament every December.
After members of parliament approve the government's proposed budget bill, it will be sent to the Guardian Council for approval before becoming law.
