Iran to-budget from 44 billion deficit.

The budget deficit will be in Iran starting in March 2009 fiscal year, 44 billion dollars, informs AFP referring to the preliminary report center Majlis (Parliament) of the country. According to the data center, the Government planned expenditure budget at 103 billion dollars, while revenues were only 59 billion.
It is assumed that the deficit will be closed through additional taxes, profits from state-owned companies. In addition, 11 billion dollars will be drawn from the local stabilization fund.
Analysts warned that the budget for such a drastic shortage may encounter serious opposition in parliament. Many economists criticize the policies of Iranian President Mahmoud Ahmadinejad, who has resorted to borrowing from the fund, because it leads to more inflation. In September, the annual increase in prices reached a record 29 percent, and inflation is now at around 24 per cent.
Stabilization in Iran are all funds from the surplus budget. The fund exists to protect against fluctuations in world oil prices.
The draft budget for 2009 set the price at 37.5 dollars per barrel. Now mark WTI crude oil is traded in the U.S. at a price slightly above $ 40 a barrel, while Brent - about 46 dollars. Oil prices have fallen over the past six months, more than three times after reaching record high of 147 dollars a barrel in July.
Because of the global economic crisis and the decline of tax revenues, most countries in the world is compelled to make up budget deficits. Middle East oil producers also faced with the problem. Thus, Saudi Arabia's budget deficit was 17 billion dollars, Oman - $ 2 billion, and the Emirate of Dubai - 1,1 billion.