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Iran to change oil output and sale in budget plan

Business Materials 9 December 2020 12:49 (UTC +04:00)
Iran to change oil output and sale in budget plan

TEHRAN, Iran, Dec.9

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Iran's oil production and sale conditions will be different from the last two years, said the Iranian President.

"The next Iranian year (starts March 21, 2021) budget plan would not rely on oil this does not mean that we do not sell or produce oil but our budget would not depend on oil. In order to develop the country oil would certainly be used," said Hassan Rouhani, Trend reports citing IRNA.

"Iran should be a powerful exporter in the world without weakening national power, if the country's export power of petrochemical and food products was more than today they could not sanction us," he said.

"The foreign currency rate would be set to 115,000 rials per USD in next year's budget plan to increase the value of the national currency. The budget plan would be strategic and to some extent would be different from past seven years, the budget plan would have a bright outlook for new Iranian year it does not mean that we want to negotiate," he added.

Rouhani went on to say that Iran is in the economic war, but in agriculture and industry, the path is quite a promising path in the second half of the current Iranian year.

"The next Iranian year budget plan has paid special attention to low-income people that include rewarding low consumption users with free power, water, and gas," he noted.

He also pointed out the report of Ministry of Energy where it indicates power consumption in last month has reduced compared to previous months by 13 percent, therefore by the end of the current Iranian year and a new year about 30 percent of people would receive free gas while water would also be free for low consumption users.

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