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Iran: Regime forecasts 9 billion budget deficit in current fiscal year

The government of Hassan Rouhani predicts a budget deficit of 9 billion dollars for the remaining months of the fiscal year ending March 20.

The Chairman of the Management Planning organization, Mohammad Bagher Nobakht, said on Wednesday: “Our prediction is that, by the end of the year, there will be lack of achieving of 9 billion dollars income however we run the country.”

He added: “Naturally there would be some difficulty.”

This is while he had said on 29 December that, even if oil prices reach $34-35 dollars a barrel, “the problem can be controlled easily”.

Prior to that, the official news agency IRNA reported that the oil income would constitute 33% of the budget for the next year.