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News > Official: No budget deficit this year

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Official: No budget deficit this year

Official: No budget deficit this year

This will happen because the government has already devised every necessary mechanism to cope with any rising or declining oil prices in the next year budget plan, said Nobakhat who is also Vice-President for Strategic Planning and Supervision.

Talking to reporters on the sidelines of a seminar here on Monday, he was asked to comment on the issue that some countries like Iraq and Saudi Arabia have been basing their next year budget plans on 60-dollar-p/b oil revenues.

Noting that some other countries like Nigeria have been planning on 73-doolar-p/b oil revenues, he said some analysts believed Saudi Arabia is counting on 80 dollar for each barrel of oil for its next year budget.

There are experts who anticipate an average of 80 dollars p/b of oil revenues for the same period, he added.

The senior official stressed that government could easily manage further severe drops in oil revenues thanks to the fact that it has been prudent enough about the consequences.

Earlier this month, Nobakht had stressed that even if the declining trend of oil prices continues by mid-March 2015, the government would have no problem running the country.

He explained that despite the continuous decline in oil prices, the government has allocated $6.87 billion to development projects.

“Currently, oil revenues account for only one-third of the country’s budget. I can guarantee that Iran has enough natural resources that will enable the government to cover expenditures conveniently, independent of oil revenues,” he said.

13:20 - 29/12/2014    /    Number : 320748    /    Show Count : 94


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