Iran sees increase in government spending

Business Materials 13 March 2018 16:50 (UTC +04:00)

Baku, Azerbaijan, March 13

By Gazenfer Hamidov – Trend:

The latest data released by the Central Bank of Iran indicates that the government spending has increased during the current fiscal year, started March 2017.

Based on latest data released by Central Bank of Iran (CBI), the government spending amounted to 1,811.4 trillion rials(each USD makes 37,600 rials based on official rate) in the first 10 months of the current fiscal year (March 20, 2017-Jan. 20), 14.8 percent more compared to the first 10 months of the last fiscal year.

The budget has envisaged 2,538.2 trillion rials of spending for the government for the current fiscal year, of which 2,127.9 trillion rials are allocated to 10-month period.

Iranian government’s total revenues stood at 1,098.1 trillion rials during the first 10 months of the current fiscal year. Meanwhile, over 1,459.5 trillion rials of revenues were envisaged in the national budget for the mentioned period, which means that the government revenues were materialized by 75.24 percent.

Total revenues of the Iranian government registered a rise by 6.4 percent during the 10-month period year-on-year.

The Iranian budget foresees 1,741 trillion rials of revenues for the government during the current fiscal year (started March 20, 2017).

The government’s overall revenues amounted to 1,032.3 trillion rials in first 10 months of the last fiscal year (March 20, 2016-Jan. 20, 2017), 29.2 percent more year-on-year.

Iran’s tax revenues amounted to 797.7 trillion rials in the 10-month period of current fiscal year, registering a 6.8 percent rise compared to the same period of the preceding year.

About 81.7 percent of the tax revenues envisaged by the national budget bill (976.3 trillion rials) have been realized during the 10-month period.

The CBI data indicates that Iran experienced a negative operating budgetary balance by 757 trillion rials, 28z percent more compared to the same period of last year (-591.6 trillion rials).