Iranian minister: 8000 projects face budget deficit
Azerbaijan, Baku -- More than 8000 projects in Iran are facing a budget deficit and remain half- finished, IRNA quoted Iranian Industry, Mine, and Trade Minister Mehdi Ghazanfari as saying.
|So they've learned something from Obama...|
Ten per cent of the National Development Fund's assets have been projected to be allocated to meet the financial needs of domestic production units, he noted. To date up to 30 trillion rials (about $2.5 billion) worth of projects has been introduced to the banking system to receive financial facilities, he added.
The Iranian administration has allocated 1150 trillion rials (about $94 billion) for completing half-finished national projects, Iranian First Vice-President Mohammad-Reza Rahimi said on Friday.
In December 2012, the Iranian Ministry of Industry, Mine and Trade announced it had completed 2000 half-finished projects through investing 40 trillion rials (about $3.3 billion), IRIB reported.
|How many trillion-rial coins is that?|
Posted by: Steve White 2013-01-08