Economy, Domestic Economy
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CBI’s 10-Month Report Shows: Budget Deficit at $7 Billion

CBI’s 10-Month Report Shows: Budget Deficit at $7 BillionCBI’s 10-Month Report Shows: Budget Deficit at $7 Billion

The Iranian government’s overall revenues during the first 10 months of the current fiscal year (March 21, 2017-Jan. 20) amounted to 421.9 trillion rials ($8.97 billion), posting a rise of 28.2% over last year's corresponding period, while its spending hit 757 trillion rials ($16.1 billion) to register a 28% growth year-on-year.   
The government issued 607.2 trillion rials ($12.91 billion) worth of bonds during the period, which are 77.9% higher compared with the corresponding period of last year to cover its deficit of 335.1 trillion rials ($7.12 billion), according to the latest report by the Central Bank of Iran.
The previous CBI report showed the government’s overall revenues during the nine months to Dec. 21, 2017, stood at 340.3 trillion rials ($7.57 billion), registering a rise of 27.8% compared with last year's corresponding period, while its spending hit 725.7 trillion rials ($16.15 billion) to record a 35.6% growth year-on-year. 
As a result, the government had to issue 74.8% more bonds in the nine months YOY to cover its widening deficit of 385.4 trillion rials ($8.57 billion). As much as 601.4 trillion rials ($13.38 billion) worth of bonds were issued during the period under review.
Revenues associated with the sales of oil and petroleum products reached 718.5 trillion rials ($15.28 billion), indicating a 46% rise YOY, but lower than the projected 954.9 trillion rials ($20.31 billion).  
 

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