President Mahmoud Ahmadinejad on Wednesday presented the next year's budget bill worth rls 5,100 trillion to the parliament to be approved and go into effect from March 20.

He said that the budget for the state-owned companies which operate independently is estimated at rls 4,000 trillion registering a growth compared to that of last year.

The President said that the general spending of the government decreased by 5.6 percent compared to last year's.

He said that the government has managed to reduce the general spending, adding that the growth in the budget for the state-run companies will go to investment in the manufacturing and services sectors.

Dr.Ahmadinejad said that total investments of the government and the state companies will stand at rls 1,360 trillion up by 20 percent compared with the preceding year.

The President made it clear that the government has planned to drastically reduce reliance on oil revenues and shifted the government spending to be provided from non-oil income.

He said that the government has planned to increase taxes by 20 percent and non-oil revenues by 89 percent compared with the preceding year to provide money for the general spending.

He said that the government has raised tax revenues by 27 percent owing to the rise in gross national product (GNP) from seven percent to 7.5 percent in line with the Five-Year Economic Development Plan which targeted a 10 percent GNP growth.