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 ...

Foreign Auto JVs  Under Gov’t Scrutiny
The Iranian Ministry of Industry has instructed local...
ATR: Iran Plane Order Remains Intact Despite US Policy - Photo Sadra Mosala
The CEO of Franco-Italian planemaker ATR says its contract...
Gold Coin Continues to Sparkle
Gold coin prices continued their weeklong surge to reach their...
Iran, Singapore Resolving Banking Ties
Iran and Singapore called for resolving banking issues to...
Iran, Norway to Expand Financial Ties
Iran and Norway explored ways of expanding financial ties...
Iran’s Mining Sector  Potential Remains Locked
The Iranian mining sector was surrounded by much fanfare...
$250 Million in Gov’t Grants, Loans to Earthquake Victims
The government will allocate 6,590 billion rials ($164 million...
Banks Lend $76b to 5 Million Applicants
The Iranian banking system paid out loans worth 3.13...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus