Baku, Azerbaijan, Feb. 18
By Elnur Baghishov – Trend:
Members of the Iranian Parliament have evaluated the Iranian budget for the coming Iranian year (begins March 21, 2019), Trend reports referring to IRNA.
The MPs set 1.42 trillion rials (about $ 33.9 billion) of revenue for oil exports as the goal for next year.
They further confirmed that, should the revenues from crude oil, gas condensate and gas exports for the next year’s budget be less than the nominated amount, the government may, based on Iran’s “Law on the Sixth Five-Year Economic, Cultural, and Social Development Plan for 1396-1400 (2016 – 2021)”, withdraw funds from Iran’s foreign exchange reserves to make up for any shortcomings.
According to the confirmations of the Iranian MPs, the National Iranian Oil Company has to pay 60 trillion rials (app. $1.42 billion) to Iran's main treasury monthly from its reserves obtained in exchange for fuel sold to petrochemical and oil refineries.