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Iran spends over $6 billion on development projects

Business Materials 16 February 2016 13:55 (UTC +04:00)

Tehran, Iran, February 16

By Mehdi Sepahvand - Trend:

Iranian government has spent 200,000 billion rials (about $6.625 billion) on developmental projects since March. 21, Iranian government's spokesperson said.

Tehran has also spent 35,000 billion rials on water supply to border frontiers as well as 15000 billion rials for water supply to villages, government spokesman Mohammad-Baqer Nobakht said during a press conference in Tehran, Trend's correspondent reported from the event.

Saying that the government is planning to pay 50,000 billion rials to contractors as bonds by March 21, Nobakht added that several billions are projected to be paid to the contractors of development projects in cash within one month, Trend's correspondent reported from the event.

Iranian media have reported that there were around 1,300 inomplete development projects in Iranian fiscal year 1391 (March 2012-March 2013), and their number jumped to 2,900 in Iranian fiscal year 1392 (March 2013-March 2014).

Back in 2015, Management and Planning Organization of Iran announced that it will take 19 years to inaugurate incomplete projects which remained from former President Mahmoud Ahmadinejad's administration.

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