Government Revenues Exceed Spending by $1.19 Billion

Government revenues during the first eight months of the current fiscal year (March 20-Nov. 20) exceeded its spending by more than $1 billion.
The Budget Law of the fiscal 2020-21 estimated 3,840 trillion rials ($14.76 billion) in revenues for the government in the eight months, of which 3,340 trillion rials ($12.84 billion) were realized, according to the head of Plan and Budget Organization, Mohammad Baqer Nobakht. 
“Eight-month spending reached 3,530 trillion rials [$13.57 billion]. In fact, the government managed to economize 310 trillion rials [$1.19 billion] of the total sum it was allowed to spend,” he was quoted as saying by Fars News Agency. 
Noting that the expenditure section of the budget is divided into operating expenses and capital expenditure, the official said, “OPEX registered a 35% growth during the eight months compared with the similar period of last year. A total of 1,040 trillion rials [$4 billion] were allocated to emoluments, indicating a 53% increase year-on-year. Also, 520 trillion rials [$2 billion] were paid in CAPEX [development projects], showing a 65% growth compared with last year’s same period.”