Majlis approves 1.5 billion Euros to strengthen Iran\\\'s defences

The Iranian parliament, Majlis, has given the go-ahead to a new scheme to spend up to 1.5 billion Euros to strengthen Iran's defences.

Iran Press/Iran news: The money will be taken from the National Development Fund, specifically for this purpose.

In their open session on Sunday afternoon Iranian MPs approved an addendum to article 4 of the budget bill, allowing the government to withdraw up to 2.375 billion euros from the National Development Fund, subject to certain conditions being met, Iran Press reported.

The government can spend this money as it sees fit, subject to certain criteria being met.

Iranian MPs also estimated the ceiling of revenues for next year's budget to be 5200 trillion, 83 billion, and 652 million Rials.

They also voted to approve this ceiling, with 152 MPs voting in favour, 32 voting against, and 8 abstaining from the vote.

A total of 227 MPs were present for the vote.

On Sunday afternoon, MPs also renewed legislation for privatisation of industry and foreign investment in Iran for a further year.211/104

Read More:

Majlis Reviews Budget for 2019 (Budget 98)

Majlis determines how the government should settle its debts