Financial Tribune - In need of new sources of revenue to compensate for the budget deficit emanating from steep declines in oil exports and reduce the ballooning liquidity, the idea of taxing bank deposits has come to the fore again, raising the possibility that the government may introduce the scheme in the 2020-21 fiscal budget. The issue was ...

Financial Tribune - The Ministry of Economy will issue Islamic financial securities worth 380 trillion rials ($3.3 billion) to partly compensate the budget deficit for the current fiscal year (March 2019-20). The figure is apart from the 380 trillion rials originally approved by Majlis in January when debating the budget bill, Fars News Agency reported....

Al-Monitor | Bijan Khajehpour:The outlook for the Iranian governments finances in the current Iranian year (which began March 21) is bleak. The economic downturn that started with the May 2018 US withdrawal from the Joint Comprehensive Plan of Action (JCPOA), and the consequent nonrealization of planned oil and gas export revenues, has squeezed the ...

Al-Monitor | Bijan Khajehpour: Iran has witnessed a turbulent year in regards to the value of its national currency. Between March and October, the rial lost about 70% of its value on the open market, leading to inflationary impacts and economic instability. While it has regained some of its lost value over the past few weeks, there are uncertainties ...

Financial Tribune - Irans budget deficit came in bigger than expected in the first half of the current year (March 21-Sept. 22) to reach 372.3 trillion rials ($2.65 billion), latest data released by the Central Bank of Iran show. The shortfall was larger than the budget laws forecast of 164.3 trillion rials ($1.17 billion) for the six-month period ...