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Iran's 2006 budget deficit neared $16B

TEHRAN, April 23 (Mehr News Agency) -- Iran's real budget deficit in the past Iranian calendar year (ended March 20, 2007), hit Rls.147.554 trillion (15.992 billion dollars).

Management and Planning Organization (MPO) reported the figure had been predicted to stand at Rls.135.153 trillion (14.612 billion dollars).

The growth in the balance of government's financial assets is indicative of an increase in its budget deficit in the past year, the report also noted.

The cabinet uses the Forex Reserve Fund and foreign capitals, issues participation bonds, and sells stocks to compensate for the shortage.

A budget deficit occurs when a government spends more money than it takes in. The opposite is a budget surplus.

When the expenditures of a government (its purchases of goods and services, plus its transfers (grants) to individuals and corporations) are greater than its tax revenues or other incomes, it creates a deficit in the government budget.

... Payvand News - 4/24/07 ... --

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