September 11, 2021 13:10

Iran Gov’t to Run $16.7b Budget Deficit in Fiscal 2021-22

Political and economic issues associated with budgeting, the rise in sales of capital asset and lack of fiscal discipline are among the main causes of budget deficit, apart from challenges posed by trade and capital account deficits

The budget deficit is on course to reach 4,640 trillion rials ($16.79 billion) in the fiscal 2021-22 while the government is also facing an unfunded deficit of roughly 30%, or 3,830 trillion rials ($13.86 billion).
According to a report by Majlis Research Center citing the Supreme Audit Court of Iran, 27% of projected revenues compared with 44% of projected expenditure as per the budget law materialized in the first two months of the current fiscal year (March 21-May 21).
Should the current situation persist, i.e., projected revenues will fail to materialize and give rise to a higher budget deficit by the end of the current fiscal year (March 20, 2022), it added.

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Iran Annual Budget