Azerbaijan, Baku, Nov.10/ Trend G.Mehdi/
A member of the Iranian parliament (Majlis) has said that the oil price will be likely set at $85 in the next fiscal year's budget act, ISNA reported on Saturday.
MP Jalil Jafari added that the budget act for the current Iranian fiscal year, which ends March 2013, also set the oil price at $85.
On Wednesday, Behrouz Moradi, the vice president for planning and strategic affairs, said that Iran will significantly decrease the dependency on oil revenues in the budget act related to the next calendar year.
According to the law, 37.5 percent of oil revenues go to the development of oil and gas fields and is deposited into the National Development Fund and 62.5 percent is spent as the current budget, he said.
Iran's state budget for 2012 approved by parliament is 5.66 quadrillion rials (about $ 461 billion), or 9.5 percent more than last year (5.17 quadrillion rials).
Iran's ability to ensure the revenue component of the state budget because of the restrictions on exports of Iranian oil to the world markets is under question. According to Iran's five-year development program, the Iranian government achieved reducing dependence of the state budget on oil revenues by two times this year.
An analysis showed that Iran's state budget revenues will be mainly formed from traditional sources, one of which is taxes. This year, it is expected to receive $ 37 billion due to taxes. The proceeds through this line will increase due to the increase in taxes by 20 percent in Iran this year. It should be stressed that the taxes with National
Iranian Oil Company are indicated in a certain clause of the Iranian state budget as oil revenues.
However, it is hard to imagine how the Iranian government plans to ensure the budget revenues for this year in light of upcoming
toughening of the sanctions that undermine the entire economy.
The sanctions, aiming to undermine the country's economy and to divert Iran from developing a nuclear program, will have a negative impact on tax collection and the activities of companies. The income expected to be received from the reduction of subsidies, will be absorbed by devaluation of the rial and inflation, which currently ranges within 19-22 percent. Therefore, it is not ruled out that Iran's budget revenues will be corrected in the future.
The budget has been made up on the basis of a fixed exchange rate of the Iranian national currency compared to the U.S. dollar, which now hits 12,260 rials to $1.