BAKU, Azerbaijan, Dec. 9
By Elnur Baghishov - Trend:
Twenty percent in Iran's budget for the next year (from March 21, 2020, through March 21, 2021) will account for Iran's National Development Fund's share in revenues to be obtained from oil, gas condensate and gas export, Trend reports referring to the draft budget for next Iranian year.
In accordance with the draft budget, during the year, the Central Bank of Iran must deduct 14.5 percent from the National Iranian Oil Company’s account and transfer to the account of Iran’s National Development Fund through the revenues obtained from the export of crude oil, gas condensate and gas.
These funds must be paid on a monthly basis and must be calculated at the end of the year.
Iran's draft budget for the next Iranian year worth 4.84 quadrillion rials (about $115 billion) was submitted to the parliament.
The budget for next year will reach 19.8 quadrillion rials (about $473 billion) in terms of reserves.
The revenues worth 454.9 trillion rials (about $10.8 billion) to be obtained from crude oil export are envisaged in Iran’s budget.