Central Bank of Iran: 3 Ways to Plug Budget Holes

The Central Bank of Iran is trying to find ways to plug the budget deficit and avoid printing more money, says the CBI governor Abdolnaser Hemmati.

Financial Tribune- In an Instagram post on Friday, Hemmati proposed three ways to fill the budget holes emanating from sharp decline in oil revenues as the result of the new United States sanctions.
These include finding new ways to export oil, issuing bonds and withdrawal from the National Development Fund of Iran, the sovereign wealth fund.
The senior banker recalled concerted efforts by the government to find alternative ways to export crude oil, which for decades has been the lifeblood of the domestic economy.

Publish Date: Jun 23, 2019