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Gov’t Raises $3.3b in Bonds to Plug Budget Deficits

 Gov’t Raises $3.3b in Bonds to Plug Budget Deficits   Gov’t Raises $3.3b in Bonds to Plug Budget Deficits

The government has so far sold 970.89 trillion rials ($3.3 billion) in sukuk to shore up its finances in the current fiscal year (March 2019-20).
The budget is being funded with 260.7 trillion rials ($900 million) in treasury bills sold by the government. Bond sales via weekly bond auctions have also contributed 710.19 trillion rials ($2.4 billion) for budget funding, the Economy Ministry said in a press release Wednesday on its news portal, shada.ir.
Chronic budget deficits due to the United States sanctions, which hit the economy hard, particularly oil exports, is a major concern for the government.

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