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Iran records decline in reliance on oil export revenues

Business Materials 26 March 2022 12:00 (UTC +04:00)
Iran records decline in reliance on oil export revenues

TEHRAN, Iran, March 26. The Iranian government is increasing sustainable incomes in its budget for the new Iranian year (started March 21, 2022), said the Minister of Economic Affairs and Finance Mohsen Khandoozi, Trend reports citing IRNA.

"The budget reliance on oil export revenues has declined and the government tax revenues were more than a hundred percent in the last Iranian year (started March 21, 2021)," he said.

A total of 190 trillion rials (about $45 billion) oil export revenues were paid to the treasury in the last Iranian year while non-oil export had a 36 percent increase of value and the country's non-oil trade volume was $100 billion.

According to the minister, a total of 520 trillion rials (about $123 billion) income was generated from tax, customs revenues, and the sale of bonds.

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