Financial And Banking


Iran Budgets for $19bn Oil Revenue 

The Iranian Majlis (parliament) last week approved a government budget which is based on oil revenues of IR1,490bn ($18.6bn) for the 1986/87 year beginning on 21 March. The budget envisages total income of IR3,574bn ($44.7bn) and total expenditure of IR4,049bn ($50.6bn), and was subject to substantial amendments by the Majlis, which added IR200bn to expenditures and reduced projected oil revenue from the...