EghtesadOnline: Iran’s economy is facing 13 monumental challenges that have built up over the past decades, after it emerged from the shadows of oil revenues when the US reimposed sanctions on the country, Vahid Shaqaqi-Shahri, a university professor and economist, says.
EghtesadOnline: With US sanctions on the oil industry taking a toll on the economy, including the national budget, the government has again pledged to reduce dependency on oil exports to zero and prepare the next budget (March 2020-21) without oil revenues.
EghtesadOnline: A senior nuclear negotiator said Tehran would return to full compliance with the 2015 nuclear deal, only if it received $15 billion in oil revenues over four months.
EghtesadOnline: Oil revenues are generated from selling the country’s capital assets and should be spent on augmenting capital assets, such as development projects, the head of Plan and Budget Organization, Mohammad Baqer Nobakht, said.
EghtesadOnline: Delinking current expenditures from oil revenues must be given high priority, the head of Energy Commission of Iran Chamber of Commerce, Industries, Mines and Agriculture said.
EghtesadOnline: The Majlis Research Center has proposed a roadmap to help wean the economy away from oil revenues by making better use of the nation’s abilities and potential for raising income and reducing expenditure.
EghtesadOnline: Oil Minister Bijan Namdar Zanganeh on Tuesday made a rather positive review of the government's projected oil revenues in the proposed budget for the next fiscal that begins in March.
EghtesadOnline: The Plan and Budget Organization of Iran submitted the government's budget bill for the next fiscal (March 2019-20) to the parliament in time on Thursday (known as Budget Day).
EghtesadOnline: Iran’s GDP growth in 2017-18 dropped to 3.8%, as the effect of a large surge in oil revenues in the previous year dissipated.
EghtesadOnline: Aiming to curb Iran’s overreliance on oil revenues and increase the share of knowledge-based firms in the national economy, President Hassan Rouhani’s government has established centers which are dedicated to promoting such companies and paving the way for them toward a stronger presence in foreign markets.