Iran Budget 2004 aimed at creating new employment opportunities utilizing domestic and foreign investments. The budget proposed to achieve high level of economic development by promoting privatization and decentralization.
Iran Budget 2004, proposed an economic growth rate of 7.3%. The budget revealed that, this growth rate would be fueled by a 7.7% increase of Gross Domestic Product.
The budget also proposed significant level of growth in the Agricultural Sector and Industrial Sector of the economy.
Major Declarations of the Budget:
The Budget declared that, different strategies would be undertaken in order to promote Privatization. This budget stressed on different decentralization policies. The Government of Iran undertook all these policies as it aimed at achieving high level of economic development through Private Sector Involvement.
Iran Budget 2004 proposed some significant employment policies in order to ensure proper distribution of resources.
The budget planned to raise the level of investment in the domestic enterprises of Iran. The budget estimated that, the level of investment in the domestic enterprises would rise by almost 7.9% in the year 2004.
The budget proposed that, the government of Iran would try to attract foreign investments in order to raise the youth employment rate of the country. The budget declared that the government would concentrate on creating sufficient employment opportunities utilizing domestic and foreign investments.
The budget also focused on the Foreign Exchange Policy of the government. The budget revealed that the Government of Iran was thinking of unifying the exchange rates. The budget also proposed growth in foreign exchange reserves.
The Budget declared that, amount of collected Tax Revenue would increase in the year 2004.
The budget revealed that, the levels of state subsidies would also rise.
The budget declared that the Price of Oil would be determined on the basis of regional price quotations and international price levels.
The budget revealed that, the oil and gas sector of Iran would significantly grow in 2004, but the Government would try to reduce its’ dependency on Oil Revenue.