VOL. XLI

No. 06

9-February-1998

IRAN

Iran Budgets For Lower Oil Revenue And Small Deficit In 1998-99

On 26 January the Iranian parliament (Majlis) approved the budget billfor 1377 (which starts on 21 March 1998) projecting total expenditure of IR230,440bn($131.7bn at the applicable official exchange rate of $1=IR1,750), an increase of 22.2%over last year's budget. The bill was also approved by the Council of Guardians. Thebudget as usual consists of two parts - the general budget which is set...