Business And Markets

Budget Deficit Augments Traction of Bond Market

The government needs to issue 1,240 trillion rials ($5.4 billion) in bonds, which is over and above the amount projected in the March 2020-21 budget, head of the Debt Management Department of the Economy Ministry said. 
Mehdi Banani said the government will sell 940 trillion rials ($4.2 billion) in bonds during the first half of the fiscal year, 620 trillion rials ($2.7 billion) of which is above the figure estimated in the budget. 
The government will also sell another 620 trillion rials before the current fiscal year is out to meet budgetary needs, ISNA reported.  
Banani added that 750 trillion rials ($3.2 billion) was generated in H1 through bond sales.  


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