No 2

14 January 2002


President Khatami Announces DraftBudget Based On Unified Exchange Rate

Iranian President Mohammad Khatamion 23 December presented to the Majlis (parliament) the draft budget billfor the Iranian year 1381, starting on 21March 2002, with total spending projected to rise by 45.6% to IR663,757($86bn). Mr Khatami said the budget was based on a unified exchange rate ofaround $1 = IR7,700 and that the multi-tier exchange system, which has been ineffect for some two...