Tehran Municipality’s revenues decreased by 33% over the first four months of the current fiscal year (March 20-July 21) compared with the corresponding period of last year, says Treasurer of Tehran City Council Seyyed Hassan Rasouli.
Tehran Municipality was expected to earn 101,915 billion rials ($396 million) in the four months under review as per its budgetary target. However, it has only earned 58% of the projected figure, i.e. 58,803 billion rials ($228 million), ISNA reported.
Out of the total revenues in the four-month period, 28% or 16,714 billion rials ($65 million) were gained from sustainable resources, including those from value added tax and renovation duties, and 72% from unsustainable resources [construction tax and duties].
“As per the budget approved by Tehran City Council, Tehran Municipality was allowed to spend 89,889 billion rials [$350 million] during the period under review. Its four-month expenditure stood at 57,704 billion rials [$224 million], of which 99.7% were cash payments,” Rasouli said.
