Iran has revised its 2019-20 budgeted spending up by 8.7% from the draft budget unveiled in December.

The budget law for the Iranian fiscal year starting 21 March projects spending of IR5,300trn ($89.7bn at the budget exchange rate of $1=IR58,000), up from the initially projected IR4,786trn ($82.5bn: MEES, 18 January). The budget law has now been submitted to the Plan and Budget Organization (PBO) for implementation. 

The general budget, which is nominally balanced, is based on a...