BAKU, Azerbaijan, June 21
By Elnur Baghishov – Trend:
Iran's oil revenues have fallen by more than $100 billion over the past three years (from March 21, 2018 through March 20, 2021), Iranian Oil Minister Bijan Zanganeh said, Trend reports citing Shana News Agency.
He made the remark while submitting a report on Iran's oil sales during the new US sanctions against Iran to the Cabinet of Ministers.
According to the minister, in addition to the sanctions over last Iranian year (from March 20, 2020 through March 20, 2021), falling oil prices as a result of the spread of the coronavirus led to a decline in Iran's oil revenues.
“The share of oil in Iran's state budget was reduced to 10 percent in the last Iranian year. While in the current Iranian year (from March 21, 2021 through March 20, 2022), the state budget is regulated without taking into account oil revenues. However, when the current government came to power in Iran (August 2013), Iran's budget depended on 42 percent of oil revenues,” Zanganeh added.
Reportedly, Iran's oil revenues were 2 percent and amounted to 120 trillion rials (about $2.86 billion) in the last Iranian year. Whereas, Iran's daily crude oil exports amounted to 2.68 million barrels until May 2018.
The worth of Iran's annual approved budget was 5.7 quadrillion rials (about $135 billion) within last Iranian year.
The worth of Iran's annual approved budget for the last Iranian year amounted to 5.7 quadrillion rials (about $135 billion).