Iran's earmarked government spending for the year starting in March 2014 at $75 billion, calculated on an open-market exchange rate, with an overall/"total" budget ceiling estimated at about $265 billion. The draft budget estimates oil exports at about 1.1 million barrels per day (bpd). The 2014 budget assumes an average oil price of $100 per barrel, inflation at 21%, GDP growth at 3% and the official USD/IRR exchange rate at 26,000 Iranian rials. The budget bill permits the government to use more than $35 billion in foreign finance. Capital expenditure is set to rise by 9.7%. The administration has set the goal of 519 trillion rials, (about $20.9 billion) government's income from implementation of the subsidy reform plan in budget bill and will be likely forced to double fuel prices. In February 2014, Parliament approved a "total" budget bill worth 7,930 trillion rials ($319 billion at the official exchange rate). The International Monetary Fund has estimated Iran needs an oil price above $130 a barrel to balance its 2015-state budget; Brent crude was below $80 a barrel in November 2014. The IMF estimated in October 2014 that Iran would run a general government deficit of $8.6 billion in 2015, at the official exchange rate, to be compensated by drawing on the National Development Fund.