TEHRAN, October 22 (MNA) – Iranian President Masoud Pezeshkian has presented a draft state budget to the parliament for the calendar year 1404 that will start on March 21.Pezeshkian presented a bill to the parliament containing the draft budget on Tuesday as he urged the lawmakers in the chamber to cooperate with his administration and ratify the bill.

He said the value of the draft budget for year 1404, including the budget earmarked to state companies, will be 504,890 trillion rials ($77.675 billion at the free market rate).

The budget is more than 57% bigger than the budget for the current calendar year in terms of local currency.

The president said the budget would benefit many groups in the Iranian society, adding that people on lower income would have to pay less tax next year.

MNA/