New PBO Chief Presents Overview of Budgeting, Financial Challenges

Masoud Mir-Kazemi, the new head of Plan and Budget Organization, has made his first comments on the fiscal budget and its financal challenges.
“Last [fiscal] year [March 2020-21], government expenditure stood at 5,620 trillion rials [$20.81 billion], of which 30% were funded through the sales of financial assets like bonds and 70% were met from sustainable resources. Two ceilings have been set for the current fiscal year’s expenditure: one 9,370 trillion rials [$34.7 billion] and the other 12,770 trillion rials [$47.29],” he was quoted as saying by Fars News Agency. 
“Over the first 139 days of the current year, a total of 2,800 trillion rials [$10.37 billion] have been spent, of which 2,200 trillion rials [$8.14 billion] came from reliable resources, 850 trillion rials [$2.14 billion] from the sale of financial assets and the remaining was financed through petty cash fund. The whole thing indicates that it was not possible to supply the budget from the beginning of the year [March 21]. The projected revenues from oil sales did not materialize; only 15% of revenues were realized in 139 days.”