Iran experiencing negative operating budgetary balance
Baku, Azerbaijan, Dec. 20
By Fatih Karimov – Trend:
Iranian government’s total revenues stood at 734.8 trillion rials ($20.6 billion based on official rate of 35,700 rials per each USD) during first seven months of the current fiscal year (March 20-Oct. 22).
Meanwhile, over 1,030.3 trillion rials of revenues were envisaged in the national budget for the mentioned period, which means that the government revenues were materialized by 71 percent, based on latest data released by Central Bank of Iran (CBI).
Total revenues of the Iranian government registered a rise by 6.3 percent during the 7-month period year-on-year.
The Iranian budget foresees 1,741 trillion of revenues for the government during the current fiscal year (started March 20, 2017).
Iran’s tax revenues amounted to 526.4 trillion rials in the period, registering a 2.7 percent rise compared to the same period of the preceding year.
About 76 percent of the tax revenues envisaged by the national budget bill (689.2 trillion rials) have been realized during the 7-month period.
Tax evasion is considered as a main problem in the country. Officials suggest that 43 percent of Iranian people, entities, institutions or organizations who produce goods and services are excluded from paying taxes.
Iranian tax officials estimate that the value of tax evasion in the country is between 130 trillion and 300 trillion rials.
According to the CBI report, the government spending amounted to 1,243.6 trillion rials in the 7-month period, 13.3 percent more compared to the first seven months of the last fiscal year (March 20-Oct. 22, 2016).
The budget has envisaged 2,538.2 trillion rials of spending for the government for the current fiscal year, of that 1,502.1 trillion rials is allocated to 7-month period.
The CBI data indicates that Iran experienced a negative operating budgetary balance by 554.5 trillion rials, 31.1 percent more compared to the same period of last year (-422.8 trillion rials).