Iran's General Treasury: Government faces budget and revenue deficit

The latest report from the Iranian General Treasury shows that the country's government is facing a severe budget and revenue deficit.

According to this report, only one-third of this year's budget has been realized and Iran's oil revenue share was only 9 percent; while this year's budget predicted daily oil exports to be about two million three hundred thousand barrels per day.

Meanwhile, the Iranian Court of Accounts also announced in a report that the government has financed part of this budget deficit from the treasury's revolving fund and another part from the resources subject to Article 125 of the Public Accounts Law.

Economic observers describe the strategies of the Ebrahim Raisi government and the Islamic Consultative Assembly to curb inflation and compensate for the budget deficit as time-consuming and ineffective.

A group of experts and economists have previously warned about Iran's economic situation.

This summer, economist and professor at Sharif University of Technology Masoud Nili warned that Iran was “on the verge of uncontrollable hyperinflation.” Mohammad Reza Farzin, a faculty member at Allameh Tabatabaei University, described Iran’s situation as “very difficult and worrying,” and Gholam Reza Mesbahi Moghadam reported a “budget deficit of 400 trillion tomans.”

Source: Voice of America