Iran gov't revenues earns $2.5B more than forecasted

Business Materials 18 March 2017 13:52 (UTC +04:00)

Baku, Azerbaijan, Mar. 18

By Fatih Karimov – Trend:

Iranian government revenues surpassed the forecasted income in current fiscal year budget (started March 20, 2016) by 80 trillion rials ($2.47 billion, based on official rate of ‎32,420 rials per each USD), the country’s economy minister, Ali Tayebnia, said.

About 2,100 trillion rials of revenues was forecasted for current fiscal year in the budget, meanwhile the figure surpassed 2,180 trillion rials, Tayebnia said, Tasnim news agency reported.

He further said that tax revenues share 1000 trillion rials of the administration incomes.

The country’s oil revenues also stood at 700 trillion rials during the current fiscal year, he added.

Meanwhile the Central Bank of Iran (CBI) said in its latest report on March 13 that the government’s total revenues stood at 1,032.3 trillion rials during the first 10 months of the current Iranian fiscal year, while over 1,319.4 trillion rials were envisaged for the period in the national budget.

However, the total revenues of the Iranian government registered an increase of 29.2 percent year-on-year.

The government spending amounted to 1,578.5 trillion rials in the period, 20.6 percent more compared to the first 10 months of preceding year (March 20, 2015-Jan. 20, 2016).