Middle East Economic Survey


No 9


Iran Announces Expansionary 2011-12 Budget With Oil Price Of $80/B

Iranian President Mahmoud Ahmadinejad on 20 February presented to the Majlis (parliament) an expansionary draft budget for the Iranian year 1390 (starting on 21 March 2011), which projects a 46.5% increase in expenditure to IR5,390 trillion ($532bn at the current rate of $1=IR10,304) from IR3,680 trillion ($357bn) in the previous year. The 46.5% increase next year comes on...