Tehran: Citing data from Iran’s Ministry of Petroleum, Fars reported that oil revenues projected under the state budget achieved a 99 per cent realisation rate during the first four months of the current year.
The agency said Iran has sufficient oil available for sale to meet its budget requirements, maintaining that its ability to generate revenue is not solely dependent on existing maritime transit conditions.
Iran’s Ministry of Petroleum has transferred $7.5 billion in foreign-exchange earnings from oil sales during the first four months of the Iranian calendar year to the country’s Central Bank. Other reports citing Iranian authorities said the figure was about 50 per cent higher than the corresponding period a year earlier.
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The funds are intended to support government spending and meet Iran’s foreign-currency requirements. Iranian authorities have said the revenue is expected to cover the government’s foreign-exchange expenditure through the end of December.
