Iran Gov’t Budget Deficit to Exceed $10b

October 20, 2021
government

T he government is expected to run a budget deficit of 2,800 trillion rials ($10.2 billion) by the end of the current fiscal year (March 2021-22), forecasts Majlis Research Center, the research arm of the Iranian Parliament.

Government revenues during the first four and a half months of the current fiscal year (started March 21) met 46% of the target set in the budget law for the period, according to a recent report published by MRC.

Revenues gained during the period realized 18% of the target set for the entire fiscal 2021-22, the report added, noting that despite the relatively high realization rate for tax and customs revenues, they also fell short of the budgetary target set for the four and a half months under review.

The realization rate for oil revenues stood at 15% for 4.5 months and 3% for the whole year, which indicate an overestimation of this source of revenue in the budget.

financialtribune



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