Tehran, Iran, December 12
By Mehdi Sepahvand – Trend:
The fact that in its proposed budget bill for the next fiscal year the Iranian government has put oil incomes at a lower level than last years is because of mega-policy to wean the country from oil, a senior official with the Management and Planning Organization told Trend December 12.
The official also said such policy was decided upon the levels above the government.
While in the budget bill for the current fiscal year (March 2017-March 2018) oil revenues were put at 1.14 quadrillion rials ($1 - 42,000 rials), this has dropped to 1.01 quadrillion in the next years, he noted.
He said that besides this fact, the bill envisions ways for the government to use other financial sources for developmental projects instead of petrodollars.
The government decision to put the next year’s oil revenues lower than the one of the current year, has been the subject of curiosity because while last year the oil price was put at $50 per barrel, this year it was put at $55.
In the meantime, the country’s oil output remains at the same level as last year’s, while the price of Iranian crude has gained almost $10 per barrel, now standing at above $60.
According to the official, Iran’s oil revenues in rial will be significantly more than last year’s, since the government has also put the US dollar rate higher than last year’s.
While this year’s budget bill put the USD at 33,500 rials, next year’s budget bill has put it at 35,000 rials.
