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CBI 9-Month Report Shows $3.6b Budget Deficit
Economy, Domestic Economy

CBI 9-Month Report Shows $3.6b Budget Deficit

Iran earned 637,810 billion rials (about 23.2 billion dollars based on official exchange rate), in non-oil revenues as well as 510,000 billion rials (18.5 billion dollars) in oil revenues during the first nine months of the current fiscal year (to end March 20), according to the latest report released by the Central Bank of Iran. On the expenditure side, the administration spent 1,010,000 billion rials (36.7 billion dollars) in current expenditure as well as 235,420 billion rials (8.5 billion dollars) in capital expenditure over the period.
The figures show the administration faced a budget deficit of 100,000 billion rials (3.6 billion dollars) over the 9-month span.
Revenues from tax was 478,720 billion rials (17.4 billion dollars), which shows a 52 percent increase compared to last years’ 11.4 billion dollars.
Since it assumed office in August 2013, the Rouhani administration has promised to figure out alternative sources of revenues to replace oil amid the sharp decline in the global oil prices.
Meanwhile, government spokesperson Mohammad Bagher Nobakht announced earlier this month that the proposed budget for the next Iranian calendar year relies mostly on tax revenues and sale of government bonds to replace the reduced oil revenues.

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