Iran’s national budget bill sees selling 3.3 mln barrels of oil per day

Business Materials 8 December 2013 14:23 (UTC +04:00)

Azerbaijan, Dec.8
By Fatih Karimov - Trend:

Iran's next year national budget bill has envisaged selling 3.3 million barrels of oil per day, the Fars News Agency reported today.

According to the bill, the country's crude sale would hit 1.212 billion barrels in the next calendar year, which starts on March 21, 2014.

The bill has set oil price at $100 per barrel and the U.S. exchange rate at 26,000 rials.

The National Iranian Oil Company's income is forecast to be 3150 trillion rials (about $126 billion based on the U.S. official exchange rate of 24,850 rials)

Today, after submitting the budget bill to the parliament (Majlis), Iran's President Hassan Rouhani said that the bill contains useful data on ways of providing public services and constructing infrastructures, IRNA reported.

He said the fact his government is just in its first year in the office adds to the importance of the Majlis becoming fully informed about the details and objectives of the proposed budget bill.

"The administration's main concerns are to create jobs, curb runaway inflation and boost economic growth," Rouhani said in his speech at the legislative chamber.