Iran devolves more economic powers to provinces
The Iranian government will allow its provinces to have more economic powers as part of its drive to spur growth in those regions by speeding up the launch of manufacturing and infrastructure projects.
Iran’s Interior Minister Ahmad Vahidi said on Monday that the government is intent on giving provinces more devolved powers on economic funding and management.
“The projects will be mostly planned in the provinces ... and resources will generally be planned and spent in the provinces,” said Vahidi after a meeting with governors from Iran’s 31 provinces in the capital Tehran.
The minister said the devolution will be in line with changes in Iran’s budgeting system which he said will be implemented in the country’s annual budget for the year starting late March.
Under the new plan, Provincial Funds for Development and Progress will allow local authorities to have quicker and easier access to financial resources they need to carry out infrastructure and manufacturing projects.
Vahidi said part of those funds will allocated from national or public resources which are currently controlled by the central government in Tehran.
He said local officials will be authorized to sell surplus properties and assets in the province to strengthen the Funds and to boost funding for their development programs.
Earlier media reports had suggested that the Funds will be similar to Iran’s sovereign wealth fund (NDFI) where resources are only used for key infrastructure projects that are deemed necessary for public purposes.
“Naturally, extra powers will be devolved to the provinces and with decentralization we will witness a good and quick progress in those regions,” said Vahidi.
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