BAKU, Azerbaijan, Sept. 15
By Elnur Baghishov – Trend:
Iran's Supreme Audit Court forecasts that Iran's budget deficit will be 1.47 quadrillion rials (about $34.9 billion) in the first six months of the current Iranian year (March 21 through September 22, 2021), this was reflected in the report of the court, Trend reports.
According to the report, taking into account that Iranian government's revenues amounted to 2.04 quadrillion rials (about $48.5 billion) in the first four months of the current Iranian year (March 21 through July 22, 2021), the figure is estimated to reach 3.06 quadrillion rials (about $72.8 billion) in 6 months.
Given that the government expenditures were equal to 4-month revenues, it can be said that expenditures will also be equal to revenues in 6 months.
In addition, considering that payments on “Sukuk” (Islamic bonds) must be made in stages throughout the year, the government must make 50 percent of payments on Islamic bonds in the first 6 months. For this, it needs 476 trillion rials (about $11.3 billion).
According to the report, the country needs a minimum of 127 trillion rials (about $3.02 billion) to increase petty cash by 1 percent due to emergencies.
Reportedly, the current Iranian budget is about 24.4 quadrillion rials (about $580 billion).
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