Iran's latest budget plan: minimum share of oil revenues
Iran's budget plan for the new year (begins on March 21, 2020) will have minimum dependency on oil revenues, said Mojgan Khanlou, the director for commercial and financial affairs in the Management and Planning Organization of Iran, Trend reports via Fars News Agency.
"This would be the third budget plan in the last two years, compiled under the sanctions. The budget put together during sanctions has the minimum share of oil revenues," Khanlou said.
"The recent OPEC decision has approved a price of $60 per barrel, however it is expected that in new Iranian year (starts March 21,2020) budget plan, the price is set at $50 per barrel," she said.
"There have been efforts made to increase oil export, however the target will not go further than one million barrels, since we know more than that can not be reached," she added.
The official also pointed out that the new Iranian year budget plan doesn't have more taxes or removed tax exemptions.
The tax reform will be implemented through regulations and parliamentary decisions, since this matter requires more preparation, she said.