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Iranian minister clarifies issue related to 1B euro loss from state budget

Finance Materials 23 July 2019 17:43 (UTC +04:00)

Baku, Azerbaijan, July 23

By Elnur Baghishov – Trend:

The information about the loss of 1 billion euro allocated from the state budget for the import of products in Iran is false, Iranian Minister of Finance and Economic Affairs Farhad Dejpasand said.

He said that the amount has been allocated in euros for the import of goods according to the official exchange rate. However, the calculations in connection with the delivery of products have not been fully carried out, Trend reports referring to the Iranian parliament’s website.

Dejpasand added that an importer was provided with foreign currency for the import of the corresponding products. Some of these products have been imported, but they have not been registered. Some of them are being imported.

He stressed that according to the law, every entrepreneur must import the products within four months after the amount in the foreign currency is allocated.

Head of the Iranian Presidential Administration Mahmoud Vaezi sent the letters to four Iranian ministers, namely, minister of industry, mine and trade, minister of agriculture, minister of health and minister of labor and social affairs.

The importers who received the foreign currency failed to meet their obligations regarding the import of medicines and the essential products and this was perceived as the loss of 1 billion euros from the state budget in Iran. In those letters, Vaezi asked to explain the reason.

The official exchange rate of 1 euro in Iran is 47,000 rials and taking this into account, this currency is used for the import of some essential products.

In the black market, 1 euro is worth about 136,000-139,000 rials.

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