Domestic Economy

Iran Budget Deficit Widens 74% YOY

The government’s overall revenues during the seven months to Oct. 22 reached 415.7 trillion rials ($4.07 billion), indicating a rise of 25.8%, while its spending hit 807.2 trillion rials ($7.91 billion) to register a 45.6% growth year-on-year
Iran Budget Deficit Widens 74% YOY
Iran Budget Deficit Widens 74% YOY

Iran’s budget deficit came in bigger than expected in the first seven months of the current fiscal year (March 21-Oct. 22) to reach 391.4 trillion rials ($3.83 billion), the latest data released by the Central Bank of Iran show. 
The shortfall was larger than the budget law’s forecast of 190.9 trillion rials ($1.87 billion) for the period and is 74.8% more compared with the deficit in last year's corresponding period. 
The deficit came in 9.6% smaller in fiscal 2017-18 than the year before.
CBI's previous budgetary report showed the deficit stood at 372.3 trillion rials ($3.65 billion) in the first half of the current year (March 21-Sept. 22).


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