TEHRAN, Iran, June 9
Trend:
Iran Minister of Economic affairs estimated the budget deficit for current Iranian year (began on March 20, 2020) by almost $33 billion.
"The 'current budget deficit' term is not correct, as the deficit occurs when expenditures prevail over revenues, while we are still at the beginning of the year, so only a forecast is possible,” Farhad Dejpasand said, Trend reports citing ICANA.
Commenting on the Parliament Research Center's estimation for budget deficit in the amount of $42 billion, the minister noted that the figure is not correct.
Referring to taxes and transferring the state-owned assets to private sector as the ways to earn revenues, he added that these measures as well as sales of bonds can compensate for the budget deficit.
Every year, the state budget law predicts a certain amount of income from bonds and privatization to compensate for the budget deficit.
In mid-May 2020, the Iranian government opted to issue domestic bonds to fill the enormous budget deficit that is expected in the current year. The plan is to sell a total of $13.5 billion.