The Iranian government has made significant progress on increasing economic transparency since the enactment of its 2000-2004 economic plan, according to an IMF report published on 10 December. Particular advances have been made in opening up the budgeting process to scrutiny.
The IMF assesses how countries measure up to its code of good practices on fiscal transparency. Iranian moves singled out for approval include the elimination of implicit exchange rate subsidies; the inclusion in the budget of other implicit subsidies, such as price controls; and the adoption of modern budget classification standards. Further improvements were suggested, among them making financial and managerial relationships in the public sector more transparent, and enhancing the quantity, quality and availability of fiscal information.
You might also like...
McDermott completes financial restructuring exercise
28 March 2024
Region heads for hotel boom
28 March 2024
Lowest bidders emerge for Kuwait housing project
28 March 2024
Redcon wins Red Sea Triple Bay infrastructure deal
28 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.