The country is facing a budget deficit hovering between 2,500 trillion rials ($4.9 billion) and 4,000 trillion rials ($7.88 billion) in the new fiscal year (started March 21), a member of Majlis Economic Commission recently said.
This indicates that economic indicators will continue to deteriorate in the new year. The interesting point is that the person who broke this piece of news is a legislator and a member of joint and economic commissions. He must be asked how the respective parliament seeks to increase the cap on the budget, despite knowing about the high budget deficit. Does the increase in budget have a different connotation other than higher budget deficit?
Morteza Afqeh, an economist, prefaced his write-up for the Persian daily Ta’adol with these questions. A translation of the text follows:
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