July 24, 2020
The Majlis Budget Committee has voted to recommend boosting the marriage loan made available to all newlyweds by two-thirds, which is far more than the rate of inflation.
The Majlis as a whole has not yet voted on the new rate, just the committee.
The loan program was created four years ago as part of the effort—pushed by the Supreme Leader—to encourage couples to marry earlier and have more children.
The birth rate remains low, however, and couples still do not marry on average until their late 20s.
The loan started at 30 million rials, climbed in successive years to 150 million, then was doubled in last year’s budget to 300 million rials and would now rise to 500 million ($3,800) in the committee proposal.
The Rohani Administration did not propose any hike either last year or this year.
The loans are interest-free and are to be paid back within five years.
They have long been popular, but it isn’t clear if they are big enough to have an impact.