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Iran Gov’t Running $200m Budget Deficit Per Week

Iran Gov’t Running $200m Budget Deficit Per WeekIran Gov’t Running $200m Budget Deficit Per Week

The government’s budget deficit is estimated to hit 1,800-2,000 trillion rials ($9-10 billion) by March 20, 2021, which marks the end of the current fiscal year, which is about 160 trillion rials ($800 million) a month or 40 trillion rials ($200 million) per week, the head of Tehran Chamber of Commerce, Industries, Mines and Agriculture said.
The current trend toward growth in budget deficit and money supply would bring about higher inflation rates and devaluation of local currency, together with the diminished purchasing power of households, Masoud Khansari was also quoted as saying by Tccim.ir.  
Referring to the rise in money supply to 26,250 trillion rials ($131.25 billion) and monetary base to 30 trillion rials ($150 million) by March 2020, Khansari said that since the Iranian year ending March 2012, money supply and monetary base have constantly been on the rise; the size of monetary base increased by an unprecedented 2.4% each month during last year (March 2019-20). 

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