FINANCIAL BANKING NEWS

BUDGETS AND REVENUES

Majlis Expects 36% Revenue Shortfall in Iran

A spokesman for the Iranian Majlis (parliament) Plan and Budget Committee, Mr. Qorban-Ali Duri Najafabadi, last week revealed that oil revenue for the current fiscal year (ending 20 March) would be only of the order of IRl,200bn ($13.5bn), 36D lower than the budgeted figure of IR1,867bn. At the same time he revealed that there were differences of opinion between the Majlis committee and the...