98

Article 98 The state budget and development program of the government shall be submitted, through the House of Elders to the House of People along with its advisory views. The decision of the House of People shall be implemented without presentation to the House of Elders, after endorsement by the President. If for some reasons the budget is not approved before the beginning of the new fiscal year, the budget of the year before shall be applied pending the passage of the new budget. The Government shall present during the fourth quarter of the financial year the budget for the next year, with the brief account of the current year budget, to the National Assembly. The precise account of the previous year financial budget shall be presented to the National Assembly during the next 6 months according to the provisions of the law. The House of People shall not delay approval of the budget for more than 1 month after receiving it and give permission to obtain or grant loans not included in the budget, for more than 15 days. If the House of People during this period does not decide on obtaining or granting loans, the proposal shall be considered approved.