ILNA: Iran Gov issues bonds to hide deficits #IranElection

Gov't issues financial bonds to hide deficit, Mahjoub

ILNA: Iran annual budget used financial participation bonds to hide government budget deficit, the head of House of Workers said.

The secretary of house of workers Alireza Mahjoub referred to government budget plan and budget deficit ‘’ the government used foreign financial facilities in the past to adjust and transfer deficit. It’s more than 10 years that government use financial participation bonds to hide deficit.
Tehran MP added the real deficit number can be calculated if we look at the budget. According to government budget plan there is permission for different sectors to issue financial bonds which will be a considerable number.
The 80 milion dollars additional costs should be supplied by 40 milion dollars reform to subsidies bill but according to law only 20 milion dollars are applicable, He added.
He noted ''Such approach purses past policies and some are the new policies, we do not expect countries experts in economical fields are not able to arrange a financial policy to avoid deficit.
Mahjoub said that I believe big contractors and wealthy powers have hand in this problem, we are running from deficits for 20 years which had considerable costs.''

via ilna.ir

[me: illegal gov issues illegal bonds]

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