CapEx Tops $6b in Two Months

The government’s capital expenditure during the first two months of the current Iranian year (March 21-May 21) stood at 280 trillion rials ($6.66 billion), which constitutes 22% of this year’s ratified CapEx figure in the budget law, the head of Plan and Budget Organization of Iran said. Noting that this year’s projected CapEx budget has increased to 1,260 trillion rials ($30 billion), Mohammad Baqer Nobakht added that 700 trillion rials ($16.66 billion) were invested in development projects last year (March 2017-18) while the government’s operating budget amounted to 3,860 trillion rials ($91.9 billion), IRNA reported.