Raisi: It’s very likely we won’t have a budget deficit until the last month of the year
Raisi said that achieving an economic growth rate close to 5 percent in the second half of the year 1400 (2021-2022) showed that the people’s government was able to reduce the inflation rate from 59.3 percent to below 40 percent. However, implementing the plan to fairly distribute subsidies and removing the preferential exchange rate, which was a legal obligation in the 1401 (2022-2023) budget, led to a renewed increase in the inflation rate.
Raisi added that by continuing the policy of controlling expenditures and costs, which started in September 2021, the government was able to balance its expenses and revenue sources. As a result, it largely controlled the increase in liquidity, reducing the liquidity growth rate from 42 percent to 25 percent. This year is the first year that, until the final month of the year, we very likely won’t have a budget deficit.