Next Fiscal Year’s Budget Deficit Could Widen Fivefold

The government’s budget deficit (the excess of spending over revenue) is estimated to reach 3,190 trillion rials ($12.26 billion) as per the budget bill of next fiscal year (March 2021-22), i.e. five times the projected figure of the current year, says top advisor to the president of Tehran Chamber of Commerce, Industries, Mines and Agriculture and former official with Industries Ministry. 
“As per the document of expenditures and revenues, the Budget Law should pursue goals such as balancing revenues and expenditures as well reducing the size of the government, delegation of affairs to the private sector and cooperatives, and reforming the banking system according to the Sixth Five-Year Development Plan (2017-22). But what is expected from the budget under the current circumstances is for it to pull the country out of recession and improve the economy,” Ebrahim Bahadorani was also quoted as saying by the news portal of TCCIM.