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WEEKLY NEWSLETTER
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Iran
Index
The Iranian fiscal year begins on March 21 and runs through
March 20 of the following calendar year. The budget, presented to
the Majlis by the Planning and Budget Organization, consists of
three sections: ordinary, plan, and defense allocations. Because of
conflict between the Revolution's stated opposition to the massive
defense expenditures of the shah and the high cost of the war with
Iraq that began less than one year after the Revolution, as of late
1987 there had been no fiscal year in which defense expenditures
were not severely understated for domestic political reasons. As a
result, attempting to set forth actual figures on the money supply,
especially as a function of fiscal policy, was almost pointless.
Data as of December 1987
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