NO. 24


Financial and Banking News

Budgets & Revenues

Cosmetic Growth In Iranian Budget Masks Real Problems

The Iranian budget for the year beginning 21 March 1994, which was passed bythe Majlis (Parliament) on 9 March, projects general spending of IR30,500bn($17.4bn), a 20% increase over the previous year. However, the increase ispredicated on the recent depreciation of the exchange rate and on therecalculation of foreign exchange used by some state-owned organizations...