Majlis sets NDF share of oil incomes in budget bill at 38%

TEHRAN – Iranian parliament on Sunday stipulated that the share of National Development Fund (NDF) from the country’s oil and gas export revenues in the newly amended budget bill for the next Iranian calendar year 1400 (starts on March 20) must be 38 percent if crude oil exports surpass one million barrels per day (bpd).

Iran expects to sell 1m bpd of oil at $50 next year

TEHRAN – Head of Iran’s Planning and Budget Organization (PBO) said the oil revenues in budget bill for the next Iranian calendar year (starts on March 20, 2020) are estimated on the expectations of selling one million barrels per day (bpd) of oil at an average price of $50, ISNA reported.

‘Budget bill to include development, employment, subsidy plans’

TEHRAN- Head of Iran’s Planning and Budget Organization (PBO) said that three biennial plans on development, subsidies and employment will be attached to the national budget bill for the next Iranian calendar year of 1399 (begins on March 20, 2020) to be submitted to the parliament.

‘Cutting budget dependency on oil revenues, top economic priority’

TEHRAN- Iranian Minister of Finance and Economic Affairs Farhad Dejpasand said that reducing the current year’s budget dependency on oil exports is the most important economic objective in the country, Mehr news agency reported.

Iran’s budget reliance on oil revenues down 30%: Jahangiri

TEHRAN- Iran has reduced its budget reliance on oil incomes to 30 percent through efforts made during the recent years, Iranian First Vice President Es’haq Jahangiri underlined.

Iran’s annual oil revenues exceed $65.8b: CBI

TEHRAN – According to the Central Bank of Iran (CBI)’s latest data, Iran’s revenues from crude oil and oil products exports in the Iranian calendar year of 1396 (March 2017 - March 2018) stood at $65.818 billion.

Oil revenues share of budget resources grows in 9 months

TEHRAN- According to the latest report of the economic department of Iran’s finance ministry, the share of oil revenues in supplying the required budget in the first nine months of the current Iranian calendar year (March 21- December 21, 2018) has increased, IRIB reported on Saturday.

By: Haniyeh Sadat Jafariyeh

Will phoenix rise from the ashes?

Iran has experienced an unprecedented devaluation of its currency, rial, during the current Iranian calendar year 1397, which is going to end on March 20, 2019.

By: Ebrahim Fallahi

Will Iran’s oil revenues satisfy next year’s budget expectations?

Despite enjoying a great variety of income sources besides oil, Iran is undeniably dependent on oil revenues for managing its financial affairs. According to economists, near 70 percent of the Iranian government’s total income comes from selling oil and oil products.

Budget bill sees $5.71b less oil revenues

TEHRAN- The predicted income from sales of crude oil and oil byproducts in the upcoming Iranian year 1398 (starting March 21, 2019) has decreased about 240 trillion rials (about $5.71 billion) in the modified budget bill, from its previous 1.73 quadrillion rials (about $41.1 billion) to 149 quadrillion rials (about $35.4 billion), Tasnim news agency reported on Sunday.

By Haniyeh Sadat Jafariyeh

1398 budget bill, (non)-oil revenues?

The budget bill for the next Iranian calendar year 1398 (starting on March 21, 2019) was presented to the parliament on December 6 while Iran’s economy, previously expected to boom, is experiencing the toughest conditions under the draconian U.S. sanctions. The upcoming year is supposedly an economic predicament for Iranians to endure and for the government to program and handle.

Iran’s H1 oil revenues 25% more than budget estimates

TEHRAN - Iran’s oil incomes during the first half of the current Iranian calendar year (March 21-September 22) exceeded the estimations in the country’s budget plans by 25 percent, IRIB reported on Tuesday quoting the Iranian oil minister.

Iran’s H1 oil revenues 16% more than budget estimates

TEHRAN - Iran’s oil incomes during the first half of the current Iranian calendar year (March 21-September 22) exceeded the estimations in the country’s budget plans by 16 percent, IRNA reported on Wednesday quoting the head of Budget and Planning Organization.

Iran’s 3-month oil revenues surpass $16b

TEHRAN – Iran’s revenues from crude oil exports reached over $16 billion in the first quarter of the current Iranian calendar year (March 21-June 21), Tasnim news agency reported quoting a government official.

By Haniyeh Sadat Jafariyeh

Economy in a nutshell: key points, future plans

At the threshold of a new year, some of major economic indices of the ending year and the major plans for the upcoming one will be reviewed here.