The Budget to Boost Iran Economy
Submitted to the Majlis by President Rouhani on Sunday, the Budget Bill for the Next Persian Year (starting 20 March 2017) includes considerable points focused on deepening the debt market in the country, bringing prosperity to Iran Economy. Being enthusiastic to use the capital market capacities for financing its activities since its formation, the acting administration has become seriously focused on issuing Sukuks and Islamic securities since the prior year. According to this Bill, the government is to expand this market, issuing new securities worth $8,350.46 mn, of which $1,284.69 mn worth Sukuks and Islamic Treasury Bills will be released to cover the principal and yield on the ovedue securities with up to a 5 year maturity period. This will allow the government to transfer its debts to next years, deepening the debt market.