Iran's parliament approves $97 billion budget
{{#rendered}} {{/rendered}}Iran's official IRNA news agency is reporting that the country's parliament has approved a $97 billion budget for the current year.
The Tuesday report says that the new budget allows the government to set the price of oil at $40 a barrel and to export 2.25 million barrels per day.
Iran says it has increased its crude export to 2.1 million barrels per day, almost double the production levels before a nuclear deal with world powers went into effect in January. The deal resulted in the lifting of international sanctions and the resumption of Iranian oil exports.
{{#rendered}} {{/rendered}}The bill needs ratification by the Guardian Council, a constitutional watchdog, to become law.