Iran realizes 79% of predicted oil revenues

Business Materials 22 June 2015 13:51 (UTC +04:00)

Tehran, Iran, June 22

By Mehdi Sepahvand - Trend:

The Iranian government earned 79 percent of the target oil revenue and paid 82 percent of the budget fund predicted for the last Iranian fiscal year (which ended March 20).

Despite a fall in the government's revenues, assets acquisition grew by 40 percent against a 20 percent growth in expenditures, which shows a positive progress and a positive economic outlook, said Iranian MP and spokesman for the Parliament's Planning and Budget Commission, Qolamreza Kateb.

The assets acquisition of 270 trillion rials was met in cash, he explained.

According to the budget law for the previous year the predicted revenue was 2,110 trillion rials ($72.4 billion for Iran 's official USD rate of 29,129 rials), while the performance has been 1800 trillion rials, Fars news agency reported June 22.

In the meantime, the government's budget resources in terms of revenue and the transfer of capital and financial assets have been 2350 trillion rials, the MP noted.

He went on to say that the transfer of capital assets (oil and condensates) was predicted to hit 790 trillion while 630 trillion rials, that is, 79 percent of the predicted number was reached.

Also, the transfer of financial assets was predicted to reach 300 trillion rials, 130 trillion of which, equal to 43 percent, was realized.

According to Kateb, the plan also envisioned an income of 980 trillion rials, 98 percent of which was realized.

The MP further said the expenditure for the mentioned period had been predicted to add up to 1,440 trillion rials, 82 percent of which was met.

Edited by CN

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