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

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

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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.

The official said it is while the country’s budget reliance on the oil revenues was previously 80 to 90 percent, Fars news agency reported on Tuesday.

In the 17. 03 quadrillion rials (about $405 billion at the official rate of 42,000 rials) budget bill for Iran’s current Iranian year (began on March 21, 2019), oil income is estimated at 1. 25 quadrillion rials (about $34 billion).

 

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