Economy, Domestic Economy

PBO Chief: 96% of Budgetary Outlay Met

PBO Chief: 96% of Budgetary Outlay MetPBO Chief: 96% of Budgetary Outlay Met

Iran met 96% of the budgetary outlay of 2.94 quadrillion rials ($78.8 billion) for the last Iranian year (March 2016-17), the head of Planning and Budget Organization said.

“As for the tax revenues projected to reach 1.57 quadrillion rials ($42 billion), 93% were materialized,” Mohammad Baqer Nobakht was also quoted as saying by IRNA in a press conference on Wednesday. According to Nobakht, who is also the government spokesman, revenues associated with the sale of capital assets stood at 740 trillion rials ($19.8 billion) for the year, which constitute 94% of the budgetary target.

"The government issued 630 trillion rials ($16.9 billion) worth of bonds last year, about 9% more than what was estimated in the bill, to compensate for the deficit in income and expenditure," he added.

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