Next year budget not oil-reliant: Nobakht

TEHRAN, Oct. 09 (MNA) – Head of the Plan and Budget Organization (PBO) Mohammad-Bagher Nobakht said Wednesday that “we can say next year's budget does not rely on oil revenues and we will not spend even one Rial of oil income on the current operating budget neither on the expenditures.”

“Oil revenues will only be consumed on purchasing capital assets and funding development projects,” he told reporters on the sidelines of Cabinet meeting.  

As reported earlier, Iran is going to allocate a major part of revenues from oil sales to the development projects following structural reforms in the next Iranian calendar year’s (March 2020-March 2021) budget bill.

“The disproportionate rise in the number of development projects will be avoided, as per the reforms undertaken in next year’s budget.” he added.

According to the official, the revenues gained from elimination of hidden energy subsidies as well as increased tax incomes will replace oil revenues. 

Nobakht announced that the government will submit the budget bill for the next Iranian calendar year (starts on March 20, 2020) to the parliament on December 6.

The members of the budget preparation committee at PBO are seriously working on the bill and while the views may differ in some areas, the consensus among all members will be the base for the final decision making, he said.

MNA/ 4741766

News Code 151025

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