Azerbaijan, Baku, Nov.7/ Trend G.Mehdi/
Iran has denied $12 billion in oil revenue deposits in its foreign exchange fund in the calendar year, which ended in March 2011, the Mehr News Agency cited a parliamentary report as saying.
The measure was against the law as the Fourth Five-Year Development Plan required the administration to deposit oil revenues to the forex fund.
On Monday, Iranian Parliamentary Economic Committee Chairman Gholamreza Mesbahi-Moqaddam said that Iran is predicted to face 540 trillion rials (about $44 billion) budget deficit in the current calendar year, which began on March 20.
Mesbahi-Moqaddam added that oil incomes have decreased and that the country is facing unfavorable economic conditions.
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.
On October 29, Iran's OPEC governor Mohammad-Ali Khatibi said that the country's oil exports have remained steady in recent months.
"Iran's oil exports are the same as 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.
However, 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.
...