Iran's low oil income compensated by other sources
TEHRAN, Iran, Aug.7
Iran's tax revenue has increased by 20 percent in current Iranian year (started March 20, 2020) compared to last Iranian year (started March 21, 2019), said Head of Iran's Plan and Budget Organization.
"Tax and customs revenues, sale of the government shares in public companies at the stock exchange and issuing bonds are other sources of revenues for the country," said Bagher Nobakht, Trend reports citing Mehr News Agency.
"The sale of government shares in public companies at stock exchange during past four months reached about $3.8 billion that has compensated low income from oil sale," Nobakht added.
"The volume of oil export and it's expected revenue has declined during the sanction situation and due to the recession caused by coronavirus spread. The oil sale has significantly decreased and so far, and only 6 percent of oil revenue has returned," the official noted.
"The government has not borrowed any money from the Central Bank of Iran; in the current situation, we have reformed policies, while the budget for construction project has been prioritized to projects that have high possibility to start operations by the end of current Iranian year," he stressed.
H added that it is expected that parliament will approve economic reform bill so that the government could submit the draft budget for next Iranian year (starts March 21, 2021) by December.