TEHRAN (Press Shia) – Iranian President Hassan Rouhani submitted the draft budget for the next Iranian fiscal year (beginning March 20, 2017) to the country’s parliament on Sunday.

The president attended an open session of the parliament on Sunday morning and presented the budget bill drafted by his administration.

He also briefed the lawmakers on the country’s economic conditions, including the current declining trend in inflation and recession.

According to the internal regulations of the Iranian parliament, the administration should present the annual budget bill to the parliament by December 5 each year.

It is submitted by the president to the legislature for review and approval.

Once the parliamentarians endorse the government’s proposed budget bill, it will go to the Guardian Council, the constitutional supervisory body, for ratification before becoming law.