TEHRAN, Iran, Feb. 28
Trend:
Iranian administration sets a strategic plan for economic development with the aim of reducing inflation and lifting economic barriers, Iran's Deputy Foreign Minister of economic affairs Zabihollah Salmani said, Trend reports citing IRNA.
Salmani called the dependence on crude oil sales, sanctions, and an unbalanced economic structure the most important economic barriers of the country.
Iran holds some of the world's largest deposits of proved oil and natural gas reserves, ranking as the world's third-largest and second-largest reserve holder of oil and natural gas, respectively, in 2020. At the end of 2020, Iran accounted for 25 percent of oil reserves in the Middle East and 12 percent in the world.
According to the Iranian government's “Sixth Economic Development Plan,” dependence on petroleum export revenues shall be reduced to 20 percent by 2022.