VOL. XXXII

NO. 45

14-AUGUST-1989

Financial and Banking News

BUDGETS AND REVENUES

Iran's Imports to Absorb 50% of Foreign Earnings

According to the Governor of the Central Bank of Iran, Mr. Majid Qassemi,Iran will spend $4.8bn, or half its total foreign exchange earnings, on importsof food and consumer goods in the fiscal year which started on 21 March. He alsosaid that the foreign exchange situation in Iran has improved substantially,without giving an exact figure for reserves. However Iran's...