(MENAFN- Qatar News Agency) The share of oil revenue is expected to go further down in the next Iranian calendar year's budget to 40 percent, a member of the Iranian Parliament's Planning, Budget and Auditing Commission said.
Gholamreza Assadollahi made the remarks in an interview with the oil ministry's website, where he added that in current budget dependency on oil revenue had edged down a trend that is expected to be continued next year, reported Iran's Fars news agency
Economic experts believe oil revenues should be invested in productive industries including oil and gas instead of being used as current expenditure. Last week, the government spokesman, Mohammad-Baqer Nobakht, said that the country was forecast to export 1.1 mb/d of crude oil and 300,000 b/d of gas condensate in the next calendar year starting in March 2014
Nobakht has told a group of lawmakers that the government is drafting next year's budget bill based on these estimates. He said the dollar's exchange rate will be set at 25,000 rials in the budget and the oil price is estimated at 100 dollars a barrel
Iran's inflation rate is expected to be on a downward trend next year to fall below 30 percent. Economic growth rate will go on an upward trend, but the economic growth index will remain negative.
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