73301
Four Budget Guzzlers
Four Budget Guzzlers

Iran's 4 Biggest Budget Spenders

Iran's 4 Biggest Budget Spenders

The ministries of defense, health and education as well as the Civil Servants Pension Organization consume the lion’s share of the government’s budget, the head of Planning and Budget Organization of Iran said.
Noting that the government does not have much leeway to reduce the budget of these four, Mohammad Baqer Nobakht also said the current fiscal year’s (March 2017-18) budget saw a 73% rise over three years ago to stand at 2.07 quadrillion rials ($53.07 billion), adding that the development budget grew by 90% over the same period, excluding the resources allocated by the National Development Fund, to stand at 420 trillion rials ($10.76 billion), IRNA reported.
The Central Bank of Iran’s latest budgetary report shows the budget deficit widened much more than expected in the first four months of the current year, reaching 161.9 trillion rials ($4.15 billion), up 26.8% compared with the similar period of last year.
To cover the widening deficit, the government has been issuing bonds. The four-month data show 173.9 trillion rials ($4.45 billion) worth of bonds were issued during the period, showing a 28.5% rise compared with the similar period of the year before.
Spending stood at 741.3 trillion rials ($19 billion) during the period under review, indicating a rise of 22.6% year-on-year. The government’s overall revenues, including tax proceeds, amounted to 374.8 trillion rials ($9.6 billion), registering a 5.7% decline YOY.

 

Short URL : https://goo.gl/wvbmC3
  1. https://goo.gl/fCS7Rh
  • https://goo.gl/SJjsQs
  • https://goo.gl/tfZrRr
  • https://goo.gl/MgHmwA
  • https://goo.gl/koxHtW

You can also read ...

Tehran Stocks Make Record Gains to Stand at All-Time Highs
Bulls are on parade in Tehran's equity market, and they are...
Aside from European countries, 70-75% of other countries are using EASA standards and regulations.
Plans are underway to update and implement new rules and...
Tech Titans Trying to Kill Calif. Privacy Initiative
As data-sharing scandals continue to mount, a new proposal in...
Freak Plunge in Nintendo's Stock
Nintendo has been red hot for the past few years, but...
Gold Coin Bullish Despite Massive Supply
Despite several schemes by the Central Bank of Iran to satisfy...
People walk by the Paris branch of Bank Saderat Iran.
Bank Saderat Iran, which boasts the most expansive overseas...
Venture Capital Funds Essential to Startup Growth
Praising venture capital funds, Iran's Vice President for...
Iran’s Share in Global Sheepskin Exports at 5%
Iran has a share of 5% in global sheepskin exports and a 1%...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus