Iranian budget and statistics for 2011

Iranian budget and statistics for 2011

Trend Persian Desk Head, Dalga Khatinoglu

Iranian president Mahmoud Ahmadinejad presented "last minute" next year's budget project to Parliament.(the New Year starts on March 21due to Iranian history ). The Parliament needs 45 days to approve the budget draft. Although there is no details given on the information, Ahmadinejad said the total volume of the budget would be 539 billion dollars. In comparison with the current year's budget (from March, 2010 to March, 2011) this figure exceeds it by 46 percent (171 billion dollars)

The total volume of the 2010 budget was 368 billion dollars.

Ahmadinejad's budget plan submitted to Parliament two months later than expected indicates different factors that may cause its increase. With the cancellation of subsidies in December 2010 the Iranian authorities reduce state expenditures by 57 bln dollars per year.
Although the US currency's exchange rate in 2010 was 950 tumens (Iranian currency), it is 1050 tumens in 2011 budget, as well as oil price in 2010 budget was 65 dollars per barrel , it is 80 dollars per barrel in 2011.

Taking all this into account, it is unclear how the budget increases by 46 per cent , and 171 billion dollars income increase based on sources of income listed above is not possible.

In 2010 Iran sold oil in the amount of 64 bln dollars, the income generated from gas condensate, petrochemistry and non-oil exports for the last 10 months totalled 21.5 billion dollars.

The government may raise taxes in 2011 and increase the volume of privatization, but so far no information on such plans has been reported.

2010 stats unclear moments

The Central Bank of Iran did not announce country's indicator of economic development, the National Reserve Fund's figures, unemployment, inflation rates and GDP in 2010.

In his last week's speech in the city of Bushehr Ahmadinejad said that 1.6 million new jobs had been created from March 21, 2010 so far and unemployment rate is 9-10 per cent.

According to the Iranian 20-Year Development Plan, 8 percent annual economic growth must be reached through 25 bln dollars foreign investments per year.

Since March 2010, according to official statistics, 2.7 bln dollars of foreign funds have
been invested and the International Bank reported that Iranian economic development was 1.5 percent in 2010.

Taking this into account, the fact that the number of newly created jobs compared with previous years is 3 times more is unclear. Given unemployment rate in the 2010 summer at 14,6 per cent on the one hand and the 1.5 percent economic growth on the other, it is still unknown how unemployment rate reduced five times.

As to the collection of 20 percent oil revenues to the National Reserve Fund, Vice-President Mohammad Reza Rahimi said the Fund's resources currently constitutes 22 bln dollars.
At the same time the Minister of Economic Development Shamsaddin Hosseini said that no more than 12 bln dollars.

According to the Supreme Audit Court this last year saw no pouring of 12 bln dollars in the National Reserve Fund.

Subscribe to Trend in Google News! Subscribe
Iran resuming exports to Tajikistan through Turkmenistan's routes
Iran resuming exports to Tajikistan through Turkmenistan's routes
Georgia sees increase in persimmon exports
Georgia sees increase in persimmon exports
Kazakhstan-Turkmenistan bilateral trade up for 9M2021
Kazakhstan-Turkmenistan bilateral trade up for 9M2021
Loading Bars
Latest
Snowfalls, heavy rains and strong winds hit Italy and Spain
Eight Iraqi officers probing attack on PM arrested on charges of negligence
Biden urges calm over Omicron COVID-19 variant
Germany's SPD will announce its ministers next week
Messi wins The 2021 Ballon d'Or
Georgia’s electricity exports double
Wild winds in Turkey claim lives, close Bosphorus strait
Azerbaijan represented at III Pacific Alliance International Cooperation Forum
Iran top nuclear negotiator, Mora meet ahead of Vienna talks
Uzbekistan, Kyrgyzstan discuss creation of trade-logistics complexes in border areas
Twitter CEO Jack Dorsey to step down
Georgian delegation leaves for Brussels
Azerbaijani, Saudi Arabian foreign ministries hold consultations
Famous artist receives Azerbaijani citizenship
Azerbaijan holds expanded meeting of Operational Headquarters for Combating COVID-19 (PHOTO)
Azerbaijan approves COVID-19 certificates
Azerbaijan discloses state budget revenues through State Customs Committee
Volume of loans issued in Azerbaijan’s real estate sector increases
Price indexes of industrial, construction sectors at Uzbek stock exchange fall
Kazakhstan to build hybrid solar power station
Azerbaijan's foreign trade turnover increases in 10M2021
Some CSTO members’ congratulations to Azerbaijan show Armenia's insignificance in CSTO - analyst
Interest rates on consumer loans in Georgia increase
Uzbekistan starts construction of new branch of Gazli-Kagan gas pipeline
Kazakhstan eyes increasing container shipments
SOCAR projects increase in local manufacturing of fuel products from 2023
IRENEX shares data on sales of Bandar Imam Petrochemical Company
Turkmen Ministry of Textile extends tender for modernization of cotton-spinning factory
Snam to increase spending on energy transition activities
Iran eyes decrease in passenger transportation via Bandar Abbas International Airport
Turkmenistan becomes Uzbekistan’s second largest gasoline supplier
Azerbaijan adopts new state standard on farming activities
Azerbaijan Deposit Insurance Fund reveals number of loans of liquidated banks
Uzbek Statistics Committee shares data on import of cement
Azerbaijan rapidly continues construction of Barda-Aghdam highway (PHOTO)
Iran discloses details of its daily gasoline production
Snam reveals investment plans by 2024
Snam expects to achieve sustainable growth of main indicators in 2021-2025
Snam raises methane emissions reduction target
Azerbaijan’s economy minister talks projects submitted for country's industrial parks
New deputy ministers of Youth and Sports of Azerbaijan appointed
Georgia’s Partnership Fund to be renovated – minister
Iran resuming exports to Tajikistan through Turkmenistan's routes
SOCAR returns part of loans through its activities in Turkey
Issue of building railway, highway along Araz River resolved – Turkish President
Ankara is ready to take steps to normalize ties with Israel – Turkish President
Azerbaijan confirms 857 more COVID-19 cases, 1,091 recoveries
Iran’s Bahar Azadi gold coin price skyrockets
Azerbaijan shares data on number of vaccinated citizens
Number of Turkish citizens seeking jobs in Uzbekistan greatly increases
EV maker Phoenix Motors files for U.S. IPO
Turkmenistan pays special attention to boosting transport, transit communications - president
Kazakhstan's KMG Engineering to buy batteries via tender
Gulf bourses regain some ground after Omicron battering
Iran shares data on generation of Shahid Rajaee TPP
ADB to finance export projects of Turkmen SMEs
Data on new Omicron coronavirus strain analyzed by crisis center - Kremlin
Georgia sees increase in persimmon exports
Kazakhstan’s oil-producing company opens tender for equipment repair services
Portugal finds 13 cases of Omicron variant at Lisbon soccer club
Turkmenistan ready to provide its port facilities in Caspian Sea for ECO countries
Cargo transportation via Iran’s Ahvaz International Airport climbs
Israel's Partner Communications swings to Q3 profit
Foreign assets of Azerbaijan’s commercial banks increase in 10M2021
Civilian injured in mine explosion in Azerbaijan's Jabrayil district
Georgia expects slower monetary policy normalization pace – TBC Capital
SOCAR to optimize fuel production at Baku refinery based on international standards
Iran reveals COVID-19 data for November 29
Turkey reveals volume of cargo transshipped via its local ports in 10M2021
SOCAR expects progress on Heydar Aliyev Baku Oil Refinery reconstruction project by late 2021
Mortar and artillery units of Azerbaijani army hold live-fire tactical exercises (VIDEO)
Kazakhstan-Turkmenistan bilateral trade up for 9M2021
Weekly review of Azerbaijani oil market
Iran membership in ECO expands regional economic ties
Azerbaijani Economy Minister talks land allocated for Aghdam Industrial Park
Uzbek Central Bank notes growth in volume of non-performing loans
Russia detects 33,860 daily COVID-19 cases
Georgia’s tangerine exports double
Iran looks to use new methods to export crude oil, gas condensate
SOCAR Turkey announces time of making final decision on Merkury project
Price of apartments in Iran’s Tehran rising
Kazakhstan reports increase in cargo transport by air
National Bank of Georgia shares data on loans interest growth
Azerbaijan records growth in prices for hotel services - Hotels & Restaurants Association
Georgia’s GDP shows unprecedented growth – PM
Azerbaijan’s volume of loans issued to industry, manufacturing sector decreases
OPEC+ countries expected to adjust future plans at upcoming meeting - analyst
Azerbaijan’s SMBDA and "ASAN Radio" launch radio programs for entrepreneurs
Russia can fully increase oil production under OPEC+ deal - Deputy Prime Minister
Iran sees increase in exports via customs of Sistan & Baluchestan Province
Turkey discloses number of ships received at local ports in October 2021
Turkey discloses number of cars transshipped via local ports in 10M2021
Kazakhstan records decline in prices of several main food products
President Ilham Aliyev signs order to recall Consul General of Azerbaijan in Russia’s Yekaterinburg
Number of Turkish citizens seeking job in Turkmenistan grows for 10M2021
How will gas swap from Turkmenistan to Azerbaijan via Iran benefit participants?
Trilateral contract to help strengthen Iran's relations with neighbors – MP
COVID-19 vaccination certificates in Azerbaijan have no expiration date, TABIB says
Uzbekistan takes over chairmanship of organization of ECO summit
Russia plays very important role in normalization of relations between Armenia and Azerbaijan - President Aliyev
All news