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Last Year’s Budget Deficit Tops $7b

Last Year’s Budget Deficit Tops $7b

Iran’s budget deficit stood at 288.5 trillion rials ($7.62 billion) in the last fiscal year (March 2016-17), indicating a 50.8% rise compared with the year before, the Central Bank of Iran announced. The government earned 1.78 quadrillion rials ($58.16 billion) in revenues during the period, up 22.5% year-on-year, CBI reported on its website. The CBI report also shows the government sold 627.4 trillion rials ($16.6 billion) worth of bonds and bought back 338.9 trillion rials ($8.9 billion) it had issued before last year.

 

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