MP predicts Iran to hit $60 billion budget deficit
Azerbaijan, Baku, Nov.3/ Trend G.Mehdi/
Iranian Parliamentary Economic Committee Chairman Gholamreza Mesbahi-Moqaddam has predicted that the administration would face 740 trillion rials (some $60 billion) budget deficit in the current calendar year, which began on March 20.
On Thursday, the Fars News Agency quoted Mesbahi-Moqaddam as saying that oil incomes have decreased and that the country is facing an unfavorable economic condition.
He put the current volume of oil sales at around 1.03 million barrels per day, saying that the figure had been targeted at 2.5 mbpd.
However, on October 29, Iran's OPEC governor Mohammad-Ali Khatibi said that the country's oil exports have recently remained steady. "Iran's oil exports are the same as in the previous months and the situation is stable," ISNA quoted Khatibi as saying.
The West is pressing Iran into shutting down its nuclear program for fear that Tehran may eventually develop nuclear weapons.
But Tehran claims that all of its nuclear research is exclusively peaceful in character.
The EU imposed an embargo on purchasing oil and oil products from Iran in July this year, while in October, Brussels adopted another major package of economic sanctions.