Middle East Economic Survey

VOL. LI

No 2

14-January-2008

IRAN

Iran Announces Expansionary 2008-09 Budget Despite Warnings About Rising Inflation

Irans President Mahmoud Ahmadijenad on 7 January presented to the Majlis (parliament) the draft budget bill for the Iranian year 1387 (starting on 20 March 2008), which projects an increase in total expenditure of 19% to a record IR2,745 trillion ($295.6bn at $1=IR9,285) from IR2,310 trillion ($248.8bn), slightly lower than the 20% increase in the 2007-08...