Iran’s economic affairs ministry denies reports on bad budgeting

Business Materials 27 November 2017 12:00 (UTC +04:00)

Baku, Azerbaijan, Nov. 27

By Khalid Kazimov – Trend:

Ministry of Economic Affairs and Finance of Iran has denied recent media reports on the “dire situation” regarding the allocation of budget to development projects in the country.

The ministry has announced that the amount of budget paid to development projects over the current fiscal year (starting March 20) has increased by 60 percent.

“Despite all restrictions, the amount of made payments for development projects has exceeded 330 trillion rials (about $10 billon according to official rate),” the statement reads.

Keyhan newspaper, an outstanding critic of President Hassan Rouhani’s government, earlier claimed that the government over the current year demonstrated its worst performance concerning the allocation of budget to development projects since 1979.