Iran’s oil revenues will hit $35 billion this year if prices continue to go up, a member of Energy Commission said Monday.
According to the figures shown by the Central Bank of Iran (CBI) and some oil experts, the country’s oil revenues have been doubled this year, Farshid Simbor added. According to MNA, the government projection spoke about $16.5 billion in the yearly budget plan.
Simbor implied that the government will draw back huge sums of money from Forex Reserve Fund in order to compensate for the budget deficit, adding the amount is estimated to be about 40,000 billion Rls. ($4.6 billion).
Instead the government can buy shares in foreign projects such as dam construction and car factory in Syria, Simbor noted.
However, he said Iranian officials should plan to supply local industries such as shipping and transportation with new facilities. (menareport.com)
