BAKU, Azerbaijan, Nov. 6
By Elnur Baghishov - Trend:
A miracle must occur for oil revenues to be separated from the budget, Iranian MP Behrouz Nemati said, Trend reports citing ILNA.
Nemati noted that Iran’s budget has always been dependent on oil, adding that a five-year program to separate oil revenues from Iran’s budget should be set up and applied gradually.
MP added that oil, taxes, non-oil exports and customs duties are Iran’s known revenue sources.
“In addition to the mentioned reserves, Iran has no other income that can secure the budget,” Nemati said.
Iran’s Plan and Budget Organization is preparing a program to separate oil revenues from the budget for the next Iranian year (starting March 21, 2020).
The Iranian budget for this year (March 21, 2019 - March 21, 2020) envisages the sale of 300,000 barrels of oil daily, while last year’s Iranian budget (March 21, 2018 - March 21, 2019) envisaged the sale of 1.5 million barrels of oil daily.
The main reason for the decline in oil revenues in the budget is the US sanctions imposed on Iran last November.