Iran's oil exports share cut to one third
TEHRAN, Iran, Oct.21
Iran's oil share in exports have reduced to one third, while the country has not completely distance itself from oil revenue, the Governor of the Central Bank of Iran wrote on his Instagram account, Trend reports.
"Oil has been part of Iran's exports and economy for the past 50 years; it has reduced to one third now, but the government could not separate its budget from oil revenues," said Abdolnaser Hemmati.
"Country's economic growth has been deeply affected by oil sector, even though the share of oil exports has been reduced. Naturally, the cruel sanctions have negatively affected the oil sector growth, and resources for the government budget diminished," the governor added.
"The CBI policy is to create stability and help to improve non-oil sector. The CBI's efforts to improve non-oil exports aim at returning the foreign currency revenues to economic cycle and facilitating imports of necessary goods," wrote Hemmati.
"The NIMA system that shows foreign currency supply exceeds the demands; in case the economic situation becomes normal again, CBI will continue its reform policies," he noted.