62 State Holdings Loss-Making

Deputy Economy Minister Abbas Hosseini said 62 state-owned holdings are loss-making.
“The accumulated losses of these companies account for more than 50% of their assets, which means they are in effect bankrupt and loss-making,” he was quoted as saying by Fars News Agency.
The deputy minister noted that there are 451 state-owned companies in Iran, 379 of which receive budget from the government.
Noting that the current fiscal year’s general budget stands at 37,000 trillion rials ($116.7 billion), Hosseini said state companies, banks and for-profit organizations account for 60% of the budget worth 22,000 trillion rials ($69 billion).