BAKU, Azerbaijan, Dec. 1
By Elnur Baghishov – Trend:
The Iranian government plans to reduce its own share in earnings from crude oil exports and increase the share of the National Development Fund of Iran instead in the next year's budget (March 21, 2022, through March 20, 2023), Adviser to the Plan and Budget Committee of the Iranian Parliament Mohammad Hosseini told Tasnim News Agency, Trend reports.
According to Hosseini, in next year's budget, 45.5 percent of earnings from oil exports will go to the government, 14.5 percent to the Iranian Oil Ministry, and the remaining 40 percent to the National Development Fund.
“Meanwhile, in Iran’s budget for the current Iranian year (March 21, 2021, through March 20, 2022), 65 percent of earnings belong to the government, 15 percent to the Ministry, while the remaining 20 percent to the National Development Fund,” he added.
The official stressed that in this year's budget, daily crude oil exports goals were set at $50 per barrel of about 2.3 million barrels.
Hosseini said that the Iranian government earned about $8 billion from crude oil exports over the first six months of the current Iranian year (March 21 through September 22, 2021).
“In next year's budget, the price of crude oil is projected at $55 per barrel, while the volume - at 1.2 million barrels daily. Thus, it is expected that about $24 billion will be earned from crude oil exports in next year,” he noted.
|
Distribution of earnings from Iran's crude oil exports |
Current Iranian year (March 21, 2021 through March 20, 2022) |
Next Iranian year (March 21, 2022 through March 20, 2023) |
|
Share of government |
$17.5 billion (65 percent) |
$11 billion (45.5 percent) |
|
Share of Oil Ministry |
$4 billion (15 percent) |
$3.5 billion (14.5 percent) |
|
Share of National Development Fund |
$5.5 billion (20 percent) |
$9.5 billion (40 percent) |
|
Total |
$27 billion |
$24 billion |
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