Iran says to not face foreign currency reserve shortage
Baku, Azerbaijan, May 6
Iranian president Hassan Rouhani said that the country will not face any problem regarding the foreign currency shortage in coming months.
Iran’s oil and non-oil revenues is expected to reach $100 billion in the current fiscal year, started March 20, Rouhani said May 6, Iranian media outlets reported.
Meanwhile, the spendings will not exceed $70 billion in the same span of time, Rouhani said, adding that Iran definitely will face no foreign currency shortage in the current fiscal year.
The Iranian administration is not facing any problem in managing the country, the president said.
The International Monetary Fund (IMF) has forecasted that Iran’s gross official reserves will witness increase by 14 percent in 2018 to reach $108.4 billion in 2018.
According to IMF the figure was $95.1 billion in 2017, down from $104.2 billion in the preceding year.
Iran’s gross official reserves averagely amounted to $63.8 billion in 2000-2014 and increased to $115.7 billion in 2015, when Iran and the six world powers reached a comprehensive agreement on Iran’s disputed nuclear program, which came into force in 2016.