Customs Revenues Better-Than-Expected

Over 145% of the projected revenues for the Islamic Republic of Iran Customs Administration in the current Iranian year’s budget will be realized by the yearend, IRICA announced in a report. The current Iranian year started on March 20, 2016, and ends on March 20, 2017. This year’s budget had envisaged 170 trillion rials ($4.47 billion) in customs revenues. IRICA had earned 140 trillion rials ($3.68 billion) in the previous year. Experts attribute the rise in customs revenues to a decline in smuggling.