BAKU, Azerbaijan, April 9
By Elnur Baghishov - Trend:
The amount of budget deficit will estimated to be at about 2 quadrillion rials (about $47.6 billion) in Iran, in the current Iranian year (started March 20, 2020), a member of the Iranian parliament’s committee on planning, budget and calculations Mohammad Hosseini told Trend .
According to Hosseini, the Budget Committee predicts amount of budget deficit was 1.6-1.7 billion rials (about $38- $40.4 billion).
"Although tax revenues are expected to increase, economic problems will be exacerbated by the decline in Iranian oil sales as a result of US sanctions, as well as the spread of the coronavirus," he said.
Hosseini said that it is planned to receive 450 trillion rials (about $10.7 billion) from the National Development Fund of Iran to restore the budget deficit. However, the base revenues of the National Development Fund of Iran are related to the sale of oil.
"The sale of state property and securities is planned to ensure budget revenues in the current Iranian year. These funds are about 800-900 trillion rials (about $19- $21.4 billion). The additional budget deficit will be provided in the following years," he said.
The MP said that the intended funds of budget is about 3.9 quadrillion rials (about $92.8 billion) in Iran. These funds must be paid for salaries, etc.
Hosseini added that worth of Iran's budget is 5.7 quadrillion rials (about $135 billion) in the current Iranian year. Last year, the figure was 4.84 quadrillion rials (about $115 billion). This shows that the budget has increased compared to last year.